Amgen Inc. $AMGN Shares Sold by Burney Co.

Key Points

• Burney Co. cut its Amgen holdings by 15.2% in the first quarter, selling 2,994 shares and leaving it with 16,686 shares valued at about $5.87 million.
• Amgen’s stock has seen mixed analyst sentiment: recent calls included a Buy upgrade from Zacks and higher price targets from firms like Truist and Goldman Sachs, while the overall consensus remains Hold with a $356 price target.
• Despite the positive analyst activity, Amgen faces some headwinds, including Tavneos scrutiny that could weigh on sentiment, even as the company recently reported better-than-expected earnings and revenue growth.

Burney Co. decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,686 shares of the medical research company's stock after selling 2,994 shares during the period. Burney Co.'s holdings in Amgen were worth $5,871,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Anfield Capital Management LLC raised its position in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Dogwood Wealth Management LLC boosted its holdings in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in Amgen in the fourth quarter valued at approximately $26,000. Tower View Wealth Management LLC raised its holdings in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted its position in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were 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 of the company's stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company's stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Zacks upgraded Amgen to a Buy (Rank #2), signaling improving earnings outlook and potentially supporting the stock in the near term. Amgen (AMGN) Upgraded to Buy: What Does It Mean for the Stock?
• Positive Sentiment: Truist raised its price target on Amgen from $327 to $340, indicating somewhat better valuation expectations, even while keeping a Hold rating. Benzinga report on Truist price target increase
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating with a $350 target, suggesting the stock is viewed as fairly valued relative to recent levels. Benzinga report on Cantor Fitzgerald rating
• Neutral Sentiment: Amgen’s stock also drew attention from market commentary noting it had been slipping while the broader market advanced, reflecting relative underperformance rather than a company-specific catalyst. Amgen (AMGN) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: Investor sentiment remains weighed down by Tavneos scrutiny, including FDA efforts to challenge the drug’s approval and the retraction of a key supporting study, which could cloud Amgen’s sales outlook and pipeline confidence. Amgen Slides as Tavneos Scrutiny and Pipeline Questions Weigh on Shares

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Amgen from $332.00 to $340.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 9th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a report on Friday, June 5th. Daiwa Securities Group decreased their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 price objective on shares of Amgen in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $356.00.

Amgen Trading Down 2.1%

Shares of Amgen stock opened at $366.44 on Tuesday. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29. 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 business has a 50 day moving average price of $342.43 and a 200 day moving average price of $348.09. The company has a market capitalization of $197.77 billion, a P/E ratio of 25.50, a P/E/G ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts anticipate that Amgen Inc. will post 22.39 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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