M. Kraus & Co Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

M. Kraus & Co decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,499 shares of the medical research company’s stock after selling 55 shares during the quarter. M. Kraus & Co’s holdings in Amgen were worth $1,090,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter worth about $1,541,991,000. GAMMA Investing LLC boosted its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after buying an additional 3,653,205 shares during the period. Capital International Investors boosted its stake in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after buying an additional 2,672,975 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.7%

Shares of AMGN opened at $295.22 on Monday. The firm has a market cap of $158.74 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company’s fifty day moving average is $281.33 and its two-hundred day moving average is $285.66. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.96 EPS. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMGN shares. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $309.22.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.