Rachna Khosla Sells 1,500 Shares of Amgen Inc. (NASDAQ:AMGN) Stock

Amgen Inc. (NASDAQ:AMGN) SVP Rachna Khosla sold 1,500 shares of the company’s 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 transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $290.33 on Friday. The company’s fifty day moving average price is $281.57 and its 200 day moving average price is $285.42. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $156.11 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Royal Bank of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Piper Sandler cut their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $309.22.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC purchased a new position in Amgen during the first quarter valued at $25,000. First Pacific Financial lifted its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Amgen during the fourth quarter valued at $25,000. Finally, Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter valued at $26,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.