Simmons Bank Has $7.02 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Simmons Bank reduced its position in Amgen Inc. (NASDAQ:AMGN) by 1.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,543 shares of the medical research company’s stock after selling 417 shares during the period. Simmons Bank’s holdings in Amgen were worth $7,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Brighton Jones LLC increased its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the period. Proficio Capital Partners LLC grew its holdings in Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company’s stock worth $471,000 after acquiring an additional 468 shares during the period. Ethos Financial Group LLC grew its holdings in Amgen by 133.8% during the 4th quarter. Ethos Financial Group LLC now owns 1,613 shares of the medical research company’s stock worth $420,000 after acquiring an additional 923 shares during the period. E Fund Management Co. Ltd. grew its holdings in Amgen by 28.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,382 shares of the medical research company’s stock worth $3,227,000 after acquiring an additional 2,748 shares during the period. Finally, Welch & Forbes LLC grew its holdings in Amgen by 0.3% during the 4th quarter. Welch & Forbes LLC now owns 25,625 shares of the medical research company’s stock worth $6,679,000 after acquiring an additional 70 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 0.5%

AMGN opened at $298.25 on Friday. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s fifty day simple moving average is $282.47 and its 200 day simple moving average is $286.79. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AMGN shares. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. UBS Group reaffirmed a “neutral” rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $307.82.

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.