Crescent Sterling Ltd. Trims Position in Amgen Inc. $AMGN

Crescent Sterling Ltd. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,951 shares of the medical research company’s stock after selling 538 shares during the period. Amgen makes up about 2.8% of Crescent Sterling Ltd.’s holdings, making the stock its 12th biggest holding. Crescent Sterling Ltd.’s holdings in Amgen were worth $2,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the 1st quarter worth $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after buying an additional 103 shares during the last quarter. Quaker Wealth Management LLC increased its holdings in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the last quarter. Finally, Nova Wealth Management Inc. increased its holdings in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after buying an additional 122 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 2.2%

Shares of Amgen stock opened at $298.43 on Friday. The business has a 50-day moving average of $287.75 and a 200-day moving average of $287.51. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market capitalization of $160.66 billion, a PE ratio of 24.40, a P/E/G ratio of 2.61 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Finally, Piper Sandler increased their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $300.94.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

About Amgen

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.