94,708 Shares in Amgen Inc. $AMGN Purchased by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd opened a new position in Amgen during the first quarter, buying 94,708 shares worth about $33.3 million.
• Amgen’s latest quarterly results topped expectations, with earnings of $5.15 per share versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• The stock was trading around $351.64 and analysts currently rate it a Hold on average, with a consensus price target of $354.42.

OP Asset Management Ltd purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 94,708 shares of the medical research company's stock, valued at approximately $33,323,000.

A number of other large investors have also recently modified their holdings of AMGN. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC raised its position in Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after purchasing an additional 114 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after purchasing an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Amgen by 5.1% in the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after purchasing an additional 2,611 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by insiders.

Amgen Stock Up 1.3%

Shares of NASDAQ AMGN opened at $351.64 on Thursday. The firm's fifty day moving average is $340.45 and its 200 day moving average is $345.95. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The company has a market cap of $189.78 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 3.48 and a beta of 0.42.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the prior year, the company posted $4.90 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts expect that Amgen Inc. will post 22.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMGN. Wells Fargo & Company increased their price objective on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. Jefferies Financial Group started coverage on shares of Amgen in a research note on Tuesday, March 10th. They set a "hold" rating and a $350.00 price target on the stock. Leerink Partners reaffirmed a "market perform" rating and issued a $355.00 price objective on shares of Amgen in a research note on Thursday, March 5th. Morgan Stanley lifted their target price on shares of Amgen from $332.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Finally, Mizuho raised their price objective on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $354.42.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.