Members Wealth LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Members Wealth LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 659 shares of the medical research company’s stock after selling 195 shares during the period. Members Wealth LLC’s holdings in Amgen were worth $205,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 target price for the company. UBS Group reaffirmed a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $309.22.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business’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 value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Stock Performance

Amgen stock opened at $291.81 on Thursday. The company has a 50 day moving average price of $280.88 and a 200-day moving average price of $285.46. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $156.91 billion, a PE ratio of 38.65, a P/E/G ratio of 2.63 and a beta of 0.51.

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

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.