Amgen Inc. $AMGN Holdings Lifted by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its Amgen stake by 5.2% in the first quarter, bringing its position to 92,090 shares worth about $32.4 million.
• Amgen reported better-than-expected Q1 earnings, posting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment remains mixed: the stock has an average rating of "Hold" with an average price target of $354.42, while one recent insider sale came from SVP Nancy A. Grygiel.

Fort Washington Investment Advisors Inc. OH increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,090 shares of the medical research company's stock after acquiring an additional 4,559 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Amgen were worth $32,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management Holding SA lifted its holdings in Amgen by 23.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 830,595 shares of the medical research company's stock valued at $291,555,000 after acquiring an additional 156,855 shares during the last quarter. Yoder Wealth Management Inc. bought a new stake in shares of Amgen in the 1st quarter worth approximately $202,000. ABN AMRO Bank N.V. raised its holdings in shares of Amgen by 10.6% in the 1st quarter. ABN AMRO Bank N.V. now owns 5,506 shares of the medical research company's stock worth $1,947,000 after purchasing an additional 528 shares in the last quarter. Traveka Wealth LLC raised its holdings in shares of Amgen by 28.3% in the 1st quarter. Traveka Wealth LLC now owns 874 shares of the medical research company's stock worth $308,000 after purchasing an additional 193 shares in the last quarter. Finally, Realta Investment Advisors acquired a new stake in Amgen during the first quarter valued at approximately $1,160,000. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMGN shares. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group started coverage on Amgen in a research report on Tuesday, March 10th. They set a "hold" rating and a $350.00 price objective for the company. Cantor Fitzgerald reissued a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research note on Wednesday, April 8th. Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Morgan Stanley boosted their target price on Amgen from $332.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $354.42.

Amgen Stock Up 0.1%

AMGN stock opened at $358.61 on Monday. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The company's 50 day simple moving average is $340.70 and its 200-day simple moving average is $346.38. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market capitalization of $193.54 billion, a P/E ratio of 24.96, a P/E/G ratio of 3.60 and a beta of 0.42.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS 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 the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm earned $4.90 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.38 EPS for the current year.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction 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.

About Amgen

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.

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