Public Employees Retirement Association of Colorado Sells 3,055 Shares of Amgen Inc. (NASDAQ:AMGN)

Public Employees Retirement Association of Colorado decreased its position in Amgen Inc. (NASDAQ:AMGN) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 76,640 shares of the medical research company’s stock after selling 3,055 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Amgen were worth $21,790,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMGN. Planned Solutions Inc. bought a new stake in shares of Amgen in the 4th quarter worth $30,000. Relyea Zuckerberg Hanson LLC lifted its holdings in Amgen by 42.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,345 shares of the medical research company’s stock valued at $387,000 after purchasing an additional 399 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Amgen by 9.5% during the fourth quarter. Global Retirement Partners LLC now owns 12,898 shares of the medical research company’s stock valued at $3,914,000 after purchasing an additional 1,114 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in Amgen by 3.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 1,946 shares of the medical research company’s stock valued at $560,000 after purchasing an additional 61 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in Amgen by 3.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 3,504 shares of the medical research company’s stock valued at $1,009,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s 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 owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMGN shares. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. UBS Group increased their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report 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 report on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $312.63.

Amgen Price Performance

NASDAQ AMGN traded down $1.87 on Monday, reaching $332.98. 664,535 shares of the company’s stock traded hands, compared to its average volume of 2,647,301. Amgen Inc. has a 12 month low of $228.21 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $313.96 and a 200 day simple moving average of $297.24. The stock has a market cap of $178.62 billion, a PE ratio of 47.84, a P/E/G ratio of 2.78 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 firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter last year, the business earned $3.98 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.5 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.