Union Bancaire Privee UBP SA Sells 367 Shares of Amgen Inc. (NASDAQ:AMGN)

Union Bancaire Privee UBP SA trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,280 shares of the medical research company’s stock after selling 367 shares during the period. Union Bancaire Privee UBP SA’s holdings in Amgen were worth $710,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new position in shares of Amgen in the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% in 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 Amgen in the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen in the fourth quarter worth approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Bank of America upped their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Royal Bank of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $309.22.

Amgen Stock Performance

Shares of AMGN stock opened at $297.29 on Friday. The stock has a fifty day moving average of $281.03 and a 200 day moving average of $285.48. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $159.85 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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

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.