Bessemer Group Inc. Boosts Stock Position in Amgen Inc. $AMGN

Key Points

• Bessemer Group Inc. increased its Amgen stake by 9.9% in the first quarter, adding 2,876 shares and bringing its total holding to 32,013 shares worth about $11.26 million.
• Several other institutional investors also adjusted positions in Amgen, and 76.5% of the stock is owned by hedge funds and other institutions, underscoring heavy institutional interest.
• Amgen’s latest quarterly results beat expectations, with EPS of $5.15 versus a $4.77 estimate and revenue of $8.62 billion, though analysts currently rate the stock a consensus “Hold” with a $356.62 price target.

Bessemer Group Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,013 shares of the medical research company's stock after purchasing an additional 2,876 shares during the period. Bessemer Group Inc.'s holdings in Amgen were worth $11,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Anfield Capital Management LLC boosted its stake in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC increased its position in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Tower View Wealth Management LLC increased its position in shares of Amgen by 331.6% in the 1st 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 during the last quarter. Manning & Napier Advisors LLC increased its position in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of Amgen in the 4th quarter valued at about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred 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 directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMGN. Morgan Stanley reduced their price target on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $350.00 price objective on shares of Amgen in a report on Monday, July 6th. Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Canaccord Genuity Group started coverage on Amgen in a report on Monday, April 20th. They set a "hold" rating and a $366.00 target price on the stock. Finally, Truist Financial lifted their target price on Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $356.62.

Amgen Stock Performance

NASDAQ AMGN opened at $366.29 on Monday. 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 one year low of $269.77 and a one year high of $391.29. The company has a 50-day simple moving average of $347.69 and a 200-day simple moving average of $350.53. The firm has a market capitalization of $197.69 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.71 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping 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 prior year, the business earned $4.90 earnings per share. Amgen's quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current year.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

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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