Daymark Wealth Partners LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Daymark Wealth Partners LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 39.8% during the first quarter, Holdings Channel.com reports. The fund owned 143,760 shares of the medical research company’s stock after selling 95,096 shares during the period. Amgen accounts for 1.9% of Daymark Wealth Partners LLC’s holdings, making the stock its 10th largest holding. Daymark Wealth Partners LLC’s holdings in Amgen were worth $44,789,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMGN. Brighton Jones LLC grew its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. World Equity Group Inc. boosted its stake in shares of Amgen by 19.7% during the 4th quarter. World Equity Group Inc. now owns 983 shares of the medical research company’s stock valued at $256,000 after purchasing an additional 162 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Amgen during the 4th quarter valued at about $694,000. IFP Advisors Inc boosted its stake in shares of Amgen by 6.2% during the 4th quarter. IFP Advisors Inc now owns 6,102 shares of the medical research company’s stock valued at $1,591,000 after purchasing an additional 357 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in shares of Amgen by 4.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,913 shares of the medical research company’s stock valued at $1,280,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.9%

AMGN stock opened at $277.49 on Wednesday. The firm has a market cap of $149.21 billion, a PE ratio of 25.32, a P/E/G ratio of 2.46 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm’s fifty day moving average is $281.03 and its 200 day moving average is $286.04. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results 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. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business earned $3.96 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. UBS Group reaffirmed a “neutral” rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.22.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade 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 through this link. Company insiders own 0.69% of the company’s stock.

Amgen Company 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.