Aristotle Capital Management LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Key Points

• Aristotle Capital Management reduced its Amgen stake by 6.5% in Q1, selling 212,999 shares and leaving it with 3.08 million shares valued at about $1.08 billion.
• Amgen reported strong quarterly results, with EPS of $5.15 beating estimates and revenue of $8.62 billion slightly topping forecasts; revenue rose 5.8% year over year.
• Analysts are mixed on AMGN: the stock currently carries a consensus “Hold” rating with an average price target of $356.62, while recent target changes ranged from $340 to $390.

Aristotle Capital Management LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,079,565 shares of the medical research company's stock after selling 212,999 shares during the period. Amgen accounts for 2.3% of Aristotle Capital Management LLC's holdings, making the stock its 9th largest position. Aristotle Capital Management LLC owned about 0.57% of Amgen worth $1,083,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMGN. Entropy Technologies LP acquired a new stake in Amgen during the 1st quarter worth approximately $3,223,000. Sustainable Insight Capital Management LLC increased its stake in Amgen by 62.1% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 1,357 shares of the medical research company's stock valued at $477,000 after purchasing an additional 520 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in Amgen by 2.3% during the first quarter. Bridgewater Advisors Inc. now owns 2,545 shares of the medical research company's stock worth $852,000 after buying an additional 57 shares during the last quarter. Bollard Group LLC raised its holdings in shares of Amgen by 3.2% in the 1st quarter. Bollard Group LLC now owns 4,087 shares of the medical research company's stock worth $1,438,000 after acquiring an additional 126 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its holdings in shares of Amgen by 77.2% in the 1st quarter. Hilltop Holdings Inc. now owns 6,089 shares of the medical research company's stock worth $2,142,000 after acquiring an additional 2,653 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN opened at $376.04 on Friday. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The stock has a fifty day moving average of $351.28 and a 200 day moving average of $351.80. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The firm has a market capitalization of $202.95 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 3.76 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, research analysts expect that Amgen Inc. will post 22.31 EPS for the current fiscal year.

Analysts Set New Price Targets

AMGN has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $350.00 price target on shares of Amgen in a research note on Monday, July 6th. Truist Financial lifted their price objective on shares of Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Guggenheim upped their target price on shares of Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Daiwa Securities Group lowered their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Finally, Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $356.62.

Insider Transactions at Amgen

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 transaction of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by company 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.

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