CRA Financial Services LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

CRA Financial Services LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,308 shares of the medical research company’s stock after selling 56 shares during the quarter. CRA Financial Services LLC’s holdings in Amgen were worth $719,000 at the end of the most recent quarter.

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

Amgen Stock Down 0.7%

NASDAQ:AMGN opened at $295.22 on Friday. The company has a market cap of $158.74 billion, a PE ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company’s 50 day moving average is $281.33 and its two-hundred day moving average is $285.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the business posted $3.96 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In other Amgen 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 completion of the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. UBS Group restated a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $309.22.

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.