Amgen Inc. $AMGN Shares Bought by Stephens Inc. AR

Key Points

• Stephens Inc. AR increased its Amgen stake by 8.6% in the first quarter, buying 9,094 more shares and bringing its total holding to 114,544 shares worth about $40.6 million.
• Amgen reported better-than-expected quarterly earnings of $5.15 per share on revenue of $8.62 billion, topping analyst estimates and marking 5.8% year-over-year revenue growth.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $355.50, though several firms recently reaffirmed or raised targets as high as $400.

Stephens Inc. AR grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,544 shares of the medical research company's stock after purchasing an additional 9,094 shares during the quarter. Stephens Inc. AR's holdings in Amgen were worth $40,647,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after buying an additional 961,975 shares during the period. State Street Corp grew its holdings in Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock valued at $10,012,872,000 after buying an additional 1,287,310 shares during the period. Capital World Investors increased its stake in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. Capital International Investors increased its stake in shares of Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock valued at $5,414,296,000 after acquiring an additional 282,219 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm'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 sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.85% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $374.15 on Monday. The firm's fifty day simple moving average is $342.43 and its 200 day simple moving average is $348.09. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The firm has a market capitalization of $201.93 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.68 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the firm earned $4.90 EPS. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts expect that Amgen Inc. will post 22.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Amgen in a research report on Thursday, June 18th. BMO Capital Markets restated an "outperform" rating and set a $400.00 price objective on shares of Amgen in a report on Wednesday. Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Mizuho lifted their target price on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. Finally, UBS Group boosted their price target on Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $355.50.

Amgen 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.

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.