Winslow Asset Management Inc. Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Winslow Asset Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,105 shares of the medical research company’s stock after selling 99 shares during the period. Winslow Asset Management Inc.’s holdings in Amgen were worth $6,575,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company’s stock valued at $471,000 after buying an additional 468 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Amgen during the 4th quarter valued at approximately $1,948,000. Patten & Patten Inc. TN lifted its position in shares of Amgen by 2.2% during the 4th quarter. Patten & Patten Inc. TN now owns 3,012 shares of the medical research company’s stock valued at $785,000 after buying an additional 65 shares in the last quarter. Finally, Gallacher Capital Management LLC lifted its position in shares of Amgen by 12.4% during the 4th quarter. Gallacher Capital Management LLC now owns 1,115 shares of the medical research company’s stock valued at $291,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.6%

Shares of AMGN opened at $297.03 on Tuesday. The firm has a market cap of $159.72 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company’s 50-day moving average price is $283.90 and its 200 day moving average price is $288.55. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMGN. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $307.82.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

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.