Amgen Inc. $AMGN Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,737 shares of the medical research company's stock after acquiring an additional 4,299 shares during the quarter. NewEdge Wealth LLC's holdings in Amgen were worth $51,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AMGN. Robeco Institutional Asset Management B.V. grew its holdings in shares of Amgen by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock worth $157,584,000 after purchasing an additional 43,884 shares during the last quarter. Curtis Advisory Group LLC acquired a new position in shares of Amgen in the fourth quarter valued at approximately $1,669,000. Adell Harriman & Carpenter Inc. raised its position in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after buying an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Amgen in the fourth quarter valued at about $22,441,000. Finally, Robinhood Asset Management LLC acquired a new position in shares of Amgen during the fourth quarter worth about $17,526,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Guggenheim boosted their target price on Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Truist Financial increased their target price on Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group set a $389.00 price target on Amgen in a report on Friday, June 5th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $400.00 price target on shares of Amgen in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $356.62.

Amgen Trading Down 0.1%

Shares of Amgen stock opened at $366.05 on Thursday. The company has a 50-day moving average of $349.58 and a two-hundred day moving average of $351.32. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock has a market cap of $197.56 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 3.71 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the company earned $4.90 EPS. The company'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. On average, research analysts anticipate that Amgen Inc. will post 22.31 EPS for the current fiscal year.

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.

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