MONECO Advisors LLC Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

MONECO Advisors LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,741 shares of the medical research company’s stock after selling 219 shares during the period. MONECO Advisors LLC’s holdings in Amgen were worth $501,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the 4th quarter worth approximately $29,000. United Community Bank purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $29,000. Providence Capital Advisors LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at approximately $30,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $30,000. Finally, Delos Wealth Advisors LLC raised its position in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Morgan Stanley lifted their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Royal Bank of Canada lifted their price target on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $305.85.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $303.28 on Tuesday. The company has a fifty day simple moving average of $293.45 and a two-hundred day simple moving average of $289.82. The company has a market cap of $162.69 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 2.70 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72.

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