Lmcg Investments LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Lmcg Investments LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,678 shares of the medical research company’s stock after selling 1,726 shares during the quarter. Lmcg Investments LLC’s holdings in Amgen were worth $11,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Beck Mack & Oliver LLC lifted its stake in shares of Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC increased its position in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after buying an additional 35 shares in the last quarter. Zullo Investment Group Inc. increased its position in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after buying an additional 37 shares in the last quarter. Trillium Asset Management LLC increased its position in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its position in Amgen by 0.4% during the 4th quarter. Great Lakes Retirement Inc. now owns 10,220 shares of the medical research company’s stock valued at $2,664,000 after buying an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.9%

Shares of AMGN opened at $287.01 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock’s 50 day moving average is $282.39 and its two-hundred day moving average is $285.31. The firm has a market cap of $154.33 billion, a P/E ratio of 38.01, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued 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. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Royal Bank of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective on the stock. UBS Group reissued a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.22.

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.