Artemis Investment Management LLP Sells 14,492 Shares of Amgen Inc. (NASDAQ:AMGN)

Artemis Investment Management LLP trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 47.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 15,957 shares of the medical research company’s stock after selling 14,492 shares during the quarter. Artemis Investment Management LLP’s holdings in Amgen were worth $4,534,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia lifted its position in Amgen by 11.4% during the third quarter. Bank of Nova Scotia now owns 54,628 shares of the medical research company’s stock valued at $14,682,000 after acquiring an additional 5,609 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Amgen by 26.9% during the third quarter. CWA Asset Management Group LLC now owns 2,334 shares of the medical research company’s stock valued at $627,000 after acquiring an additional 495 shares during the last quarter. Teza Capital Management LLC lifted its position in Amgen by 448.3% during the third quarter. Teza Capital Management LLC now owns 5,340 shares of the medical research company’s stock valued at $1,435,000 after acquiring an additional 4,366 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in Amgen during the third quarter valued at approximately $411,000. Finally, Fred Alger Management LLC lifted its position in Amgen by 963.8% during the third quarter. Fred Alger Management LLC now owns 95,071 shares of the medical research company’s stock valued at $25,551,000 after acquiring an additional 86,134 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.4 %

NASDAQ AMGN traded down $1.24 during trading hours on Friday, reaching $312.45. The company had a trading volume of 3,518,173 shares, compared to its average volume of 2,791,304. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72. The stock has a market capitalization of $167.61 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. The stock has a 50-day moving average of $299.67 and a 200 day moving average of $291.67. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company posted $3.98 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMGN. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Argus increased their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

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.