Amgen Inc. $AMGN Shares Sold by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC cut its Amgen stake by 30.9% in the first quarter, selling 10,686 shares and leaving it with 23,890 shares valued at about $8.4 million.
• Amgen recently beat quarterly expectations, reporting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year. The company also reaffirmed FY2026 EPS guidance of 21.7 to 23.1.
• Wall Street sentiment remains mixed: analysts have a consensus Hold rating on AMGN, with an average price target of $356.62, while the stock traded around $360.45 and was down 0.8% in Tuesday trading.

Mattern Capital Management LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,890 shares of the medical research company's stock after selling 10,686 shares during the period. Mattern Capital Management LLC's holdings in Amgen were worth $8,406,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. Brighton Jones LLC raised its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after acquiring an additional 114 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after acquiring an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC increased its position in Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares in the last quarter. Finally, Ieq Capital LLC increased its position in Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after purchasing an additional 2,611 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMGN. BMO Capital Markets reissued an "outperform" rating and issued a $400.00 target price on shares of Amgen in a research note on Wednesday, July 1st. Argus decreased their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Piper Sandler reiterated an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Guggenheim boosted their price objective on shares of Amgen from $340.00 to $343.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Amgen in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $356.62.

Amgen Trading Down 0.8%

Shares of AMGN opened at $360.45 on Tuesday. 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 firm has a market capitalization of $194.54 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.59 and a beta of 0.41. The stock's fifty day simple moving average is $345.09 and its 200 day simple moving average is $349.65. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter last year, the firm earned $4.90 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.32 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president directly 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 document filed with the SEC, which is available at this link. 0.85% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

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.