Bay Rivers Group Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bay Rivers Group lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,424 shares of the medical research company’s stock after selling 186 shares during the quarter. Amgen makes up approximately 1.5% of Bay Rivers Group’s holdings, making the stock its 25th biggest position. Bay Rivers Group’s holdings in Amgen were worth $2,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE increased its position 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 last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.9%

Shares of AMGN opened at $287.01 on Thursday. The company has a market cap of $154.33 billion, a PE ratio of 38.01, a P/E/G ratio of 2.63 and a beta of 0.51. The business has a fifty day moving average of $282.39 and a 200 day moving average of $285.31. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. Amgen’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMGN. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Piper Sandler cut their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $309.22.

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.