Signet Financial Management LLC Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Signet Financial Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,910 shares of the medical research company’s stock after selling 357 shares during the period. Signet Financial Management LLC’s holdings in Amgen were worth $2,153,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Amgen in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen during the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Amgen during the 4th quarter worth about $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $289.98 on Tuesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $155.92 billion, a price-to-earnings ratio of 38.41, a PEG 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. The business’s 50 day moving average price is $281.26 and its 200 day moving average price is $285.36.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Royal Bank of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $309.22.

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.