Amgen Inc. (NASDAQ:AMGN) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 35.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,504 shares of the medical research company’s stock after selling 5,199 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Amgen were worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Provence Wealth Management Group raised its holdings in Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after acquiring an additional 154 shares during the last quarter. Kinsale Capital Group Inc. raised its holdings in Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after acquiring an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after acquiring an additional 109 shares during the last quarter. Traynor Capital Management Inc. raised its holdings in Amgen by 9.5% in the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Valley Brook Capital Group Inc. raised its holdings in Amgen by 7.0% in the 4th quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock valued at $1,362,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Morgan Stanley dropped their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Amgen Stock Up 1.4 %

AMGN stock traded up $4.68 during midday trading on Monday, hitting $335.97. The company’s stock had a trading volume of 1,681,452 shares, compared to its average volume of 2,680,763. 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 $228.21 and a 52-week high of $338.98. The firm has a market capitalization of $180.22 billion, a P/E ratio of 47.33, a PEG ratio of 3.00 and a beta of 0.58. The firm has a 50-day simple moving average of $311.81 and a 200-day simple moving average of $296.22.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter last year, the company posted $3.98 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 19.48 EPS 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.