Assenagon Asset Management S.A. Purchases 181,580 Shares of Amgen Inc. $AMGN

Key Points

• Assenagon Asset Management more than doubled its stake in Amgen during the first quarter, buying 181,580 additional shares and bringing its total holdings to 344,745 shares worth about $121.3 million.
• Amgen beat quarterly expectations, reporting EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, with sales up 5.8% year over year.
• Analyst sentiment is mixed: the stock currently has a consensus rating of “Hold” and an average price target of $354.42, while insiders recently saw one notable sale by SVP Nancy A. Grygiel.

Assenagon Asset Management S.A. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 111.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,745 shares of the medical research company's stock after purchasing an additional 181,580 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of Amgen worth $121,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. High Note Wealth LLC increased its holdings in Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after purchasing an additional 28 shares during the period. TAGStone Capital Inc. lifted its stake in shares of Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock worth $1,351,000 after acquiring an additional 28 shares during the period. Verus Capital Partners LLC boosted its holdings in Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after acquiring an additional 28 shares during the last quarter. Destination Wealth Management increased its position in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock valued at $456,000 after purchasing an additional 29 shares during the period. Finally, West Family Investments Inc. increased its position in Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock valued at $779,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 1.3%

Shares of NASDAQ AMGN opened at $351.64 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap of $189.78 billion, a PE ratio of 24.47, a P/E/G ratio of 3.48 and a beta of 0.42. The company's fifty day simple moving average is $340.45 and its 200 day simple moving average is $345.95. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Canaccord Genuity Group assumed coverage on shares of Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 price target on the stock. Piper Sandler reiterated an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Royal Bank Of Canada reissued a "positive" rating on shares of Amgen in a research note on Thursday, June 18th. Wells Fargo & Company boosted their target price on shares of Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a report on Thursday, March 19th. Finally, UBS Group upped their price target on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. 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 assigned a Sell rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and an average target price of $354.42.

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.

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