Annex Advisory Services LLC Sells 4,623 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Annex Advisory Services LLC cut its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 29.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,145 shares of the medical research company’s stock after selling 4,623 shares during the quarter. Annex Advisory Services LLC’s holdings in Amgen were worth $3,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMGN. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the fourth quarter valued at $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new stake in shares of Amgen during the 4th quarter valued at $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen during the 4th quarter valued at $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.9%

Shares of AMGN stock opened at $287.01 on Thursday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The business has a 50-day moving average of $282.39 and a 200 day moving average of $285.31. The stock has a market capitalization of $154.33 billion, a PE ratio of 38.01, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMGN. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Cantor Fitzgerald initiated coverage on Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. 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. Finally, UBS Group restated a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $309.22.

View Our Latest Stock Report on Amgen

Amgen Profile

(Free Report)

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.

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