Amgen Inc. (NASDAQ:AMGN) Stock Position Lowered by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,755 shares of the medical research company’s stock after selling 233 shares during the period. Geneos Wealth Management Inc.’s holdings in Amgen were worth $499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. grew its position in Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after buying an additional 243,720 shares during the period. Royal Bank of Canada grew its holdings in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Norges Bank acquired a new position in shares of Amgen in the fourth quarter worth $1,556,912,000. Finally, California Public Employees Retirement System raised its holdings in shares of Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after acquiring an additional 490,539 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. TD Cowen cut their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Mizuho increased their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.00.

Amgen Stock Performance

Amgen stock traded up $3.42 during mid-day trading on Thursday, reaching $325.09. The company had a trading volume of 2,241,893 shares, compared to its average volume of 2,720,929. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market cap of $174.39 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 2.81 and a beta of 0.58. The company has a 50 day moving average of $307.86 and a 200-day moving average of $294.15. Amgen Inc. has a 52 week low of $224.09 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter last year, the company earned $3.98 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 19.47 EPS for the current fiscal year.

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.