Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Coho Partners Ltd.

Coho Partners Ltd. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 29.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,148 shares of the medical research company’s stock after selling 76,280 shares during the period. Amgen comprises approximately 3.4% of Coho Partners Ltd.’s portfolio, making the stock its 16th biggest position. Coho Partners Ltd.’s holdings in Amgen were worth $57,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital World Investors grew its position in 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 valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter valued at $1,541,991,000. GAMMA Investing LLC boosted its stake in shares of Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the period. Capital International Investors grew its holdings in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 25.4% in 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 acquiring an additional 2,672,975 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $289.33 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The company has a fifty day simple moving average of $281.82 and a 200 day simple moving average of $286.02. The company has a market cap of $155.58 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. UBS Group reissued a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

About Amgen

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.