Caldwell Sutter Capital Inc. Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Caldwell Sutter Capital Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 4.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,952 shares of the medical research company’s stock after selling 82 shares during the period. Caldwell Sutter Capital Inc.’s holdings in Amgen were worth $555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter valued at about $29,000. United Community Bank bought a new position in shares of Amgen during the fourth quarter valued at about $29,000. Planned Solutions Inc. bought a new position in shares of Amgen during the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC raised its stake in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. Raymond James initiated coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. BMO Capital Markets increased their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

AMGN stock traded down $1.39 on Wednesday, hitting $309.38. The company had a trading volume of 995,933 shares, compared to its average volume of 2,759,290. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock’s 50-day simple moving average is $303.09 and its 200 day simple moving average is $292.80. The stock has a market cap of $165.96 billion, a price-to-earnings ratio of 44.50, a P/E/G ratio of 2.82 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter last year, the company posted $3.98 earnings per share. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 19.47 earnings per share 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.