Courier Capital LLC Sells 520 Shares of Amgen Inc. (NASDAQ:AMGN)

Courier Capital LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 15,860 shares of the medical research company’s stock after selling 520 shares during the quarter. Courier Capital LLC’s holdings in Amgen were worth $4,941,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Centricity Wealth Management LLC bought a new position in Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter worth about $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen during the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMGN shares. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Royal Bank of Canada cut their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Piper Sandler dropped their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Finally, Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $309.22.

Amgen Stock Performance

Shares of AMGN stock opened at $290.33 on Monday. The business has a fifty day moving average of $281.57 and a 200 day moving average of $285.39. The firm has a market capitalization of $156.11 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred 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 sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by 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.