BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stake in Amgen Inc. (NASDAQ:AMGN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 30.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 375,457 shares of the medical research company’s stock after selling 165,853 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Amgen were worth $106,750,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AMGN. Horizon Financial Services LLC bought a new position in Amgen in the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen in the fourth quarter worth about $29,000. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter worth about $29,000. Planned Solutions Inc. bought a new stake in Amgen during the 4th quarter valued at approximately $30,000. Finally, Delos Wealth Advisors LLC lifted its holdings in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Royal Bank of Canada boosted their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, BMO Capital Markets raised their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $312.63.

Amgen Trading Up 0.8 %

Amgen stock traded up $2.53 during midday trading on Wednesday, reaching $335.67. The stock had a trading volume of 1,932,887 shares, compared to its average volume of 2,697,550. Amgen Inc. has a 52-week low of $227.40 and a 52-week high of $336.61. The company has a fifty day moving average of $311.02 and a 200 day moving average of $295.71. The firm has a market cap of $180.06 billion, a price-to-earnings ratio of 47.95, a price-to-earnings-growth ratio of 2.98 and a beta of 0.58. 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 (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.48 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.