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

Courier Capital LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,860 shares of the medical research company’s stock after selling 520 shares during the period. Courier Capital LLC’s holdings in Amgen were worth $4,941,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wesbanco Bank Inc. grew its position in Amgen by 23.2% in the first quarter. Wesbanco Bank Inc. now owns 64,170 shares of the medical research company’s stock worth $19,992,000 after acquiring an additional 12,092 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Amgen by 0.6% during the first quarter. First Citizens Bank & Trust Co. now owns 9,862 shares of the medical research company’s stock valued at $3,073,000 after acquiring an additional 58 shares during the last quarter. Priebe Wealth Holdings LLC bought a new position in shares of Amgen during the first quarter valued at about $209,000. Abacus Planning Group Inc. raised its stake in shares of Amgen by 4.4% during the first quarter. Abacus Planning Group Inc. now owns 3,854 shares of the medical research company’s stock valued at $1,201,000 after acquiring an additional 164 shares during the last quarter. Finally, PFW Advisors LLC raised its stake in shares of Amgen by 3.0% during the first quarter. PFW Advisors LLC now owns 4,364 shares of the medical research company’s stock valued at $1,360,000 after acquiring an additional 126 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 1.1%

NASDAQ AMGN opened at $290.33 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market cap 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 50 day moving average price of $281.57 and a 200 day moving average price of $285.39. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMGN shares. UBS Group reissued a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price target on shares of Amgen in a report 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. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $309.22.

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.