Amgen Inc. $AMGN Shares Sold by Torray Investment Partners LLC

Key Points

• Torray Investment Partners LLC cut its Amgen stake by 16.5% in the first quarter, selling 10,635 shares and leaving it with 54,012 shares worth about $19.0 million.
• Amgen reported better-than-expected Q1 earnings of $5.15 per share on revenue of $8.62 billion, with revenue up 5.8% year over year and EPS ahead of estimates by $0.38.
• Despite the solid results, Wall Street remains cautious: the stock has an average analyst rating of “Hold,” and the consensus price target is $355.73, while insiders and some institutions have also recently sold shares.

Torray Investment Partners LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,012 shares of the medical research company's stock after selling 10,635 shares during the period. Amgen comprises 2.8% of Torray Investment Partners LLC's holdings, making the stock its 15th largest position. Torray Investment Partners LLC's holdings in Amgen were worth $19,004,000 as of its most recent filing with the Securities & Exchange Commission.

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

Amgen Trading Down 0.1%

Shares of NASDAQ AMGN traded down $0.23 during midday trading on Friday, reaching $363.39. 1,632,617 shares of the stock were exchanged, compared to its average volume of 2,658,015. The company has a 50 day simple moving average of $344.81 and a 200 day simple moving average of $349.32. The stock has a market capitalization of $196.12 billion, a P/E ratio of 25.29, a PEG ratio of 3.59 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. 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 released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm 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 business'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. As a group, equities analysts expect that Amgen Inc. will post 22.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Amgen from $340.00 to $333.00 and set an "equal weight" rating for the company in a research report on Wednesday. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. Canaccord Genuity Group assumed coverage on Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Amgen in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $355.73.

Insider Buying and Selling

In other Amgen 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 value of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

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.

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.