Insigneo Advisory Services LLC Sells 706 Shares of Amgen Inc. (NASDAQ:AMGN)

Insigneo Advisory Services LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 20.4% in the first quarter, HoldingsChannel reports. The firm owned 2,762 shares of the medical research company’s stock after selling 706 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Amgen were worth $861,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Tallon Kerry Patrick bought a new position in shares of Amgen during the 4th quarter valued at approximately $270,000. Brighton Jones LLC lifted its position in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares during the last quarter. Principal Securities Inc. boosted its stake in Amgen by 0.8% during the fourth quarter. Principal Securities Inc. now owns 13,612 shares of the medical research company’s stock worth $3,548,000 after buying an additional 111 shares during the period. Sierra Ocean LLC bought a new position in Amgen during the fourth quarter valued at $53,000. Finally, Nicholas Hoffman & Company LLC. increased its position in Amgen by 13.6% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 1,173 shares of the medical research company’s stock valued at $306,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business’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 completion of the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Piper Sandler decreased their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. Royal Bank Of Canada reduced their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

Amgen Trading Down 1.9%

NASDAQ:AMGN opened at $290.05 on Wednesday. The firm has a 50-day simple moving average of $281.62 and a 200-day simple moving average of $285.78. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $155.96 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.67 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $3.96 earnings per share. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal 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.