Amgen Inc. $AMGN Shares Acquired by Cutter Capital Management LP

Key Points

• Cutter Capital Management LP increased its holdings in Amgen Inc. by 31.3% in Q1, making it the firm's second largest position with a total value of approximately $15.58 million.
• Amgen reported a quarterly earnings of $6.02 EPS, exceeding analysts' expectations and indicating a revenue growth of 9.4% year-over-year.
• The company announced a quarterly dividend of $2.38 per share, with a dividend yield of 3.4% and a payout ratio of 77.84%.

Cutter Capital Management LP boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the medical research company's stock after acquiring an additional 11,910 shares during the period. Amgen accounts for about 6.8% of Cutter Capital Management LP's investment portfolio, making the stock its 2nd largest position. Cutter Capital Management LP's holdings in Amgen were worth $15,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. KPP Advisory Services LLC increased its holdings in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council bought a new position in shares of Amgen in the first quarter worth about $1,331,000. Trinity Legacy Partners LLC raised its holdings in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after acquiring an additional 612 shares in the last quarter. DLK Investment Management LLC raised its holdings in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after acquiring an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC raised its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after acquiring an additional 42 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $3.45 during trading on Monday, hitting $280.19. The company had a trading volume of 2,449,417 shares, compared to its average volume of 2,791,794. The stock has a fifty day simple moving average of $293.85 and a two-hundred day simple moving average of $292.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The firm has a market capitalization of $150.84 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.4%. Amgen's dividend payout ratio is presently 77.84%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Bank of America lifted their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $304.43.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

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.