Bridges Investment Management Inc. Lowers Holdings in Amgen Inc. $AMGN

Key Points

• Bridges Investment Management trimmed its Amgen stake by 4% in the fourth quarter, selling 3,698 shares and leaving it with 88,593 shares valued at about $29.0 million.
• Amgen received a key European Commission approval for Imdylltra in extensive-stage small cell lung cancer, a move backed by phase III data showing a 40% reduction in death risk and seen as a potential growth catalyst.
• The company’s latest results were solid, with Q1 earnings of $5.15 per share topping estimates and revenue rising 5.8% year over year to $8.62 billion, even as analysts maintain a mixed view with a consensus Hold rating.

Bridges Investment Management Inc. decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,593 shares of the medical research company's stock after selling 3,698 shares during the quarter. Bridges Investment Management Inc.'s holdings in Amgen were worth $28,997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. High Note Wealth LLC grew its holdings in Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after buying an additional 28 shares during the period. West Family Investments Inc. grew its holdings in Amgen by 1.1% in the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock valued at $779,000 after buying an additional 30 shares during the period. Viawealth LLC grew its holdings in Amgen by 0.4% in the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock valued at $2,023,000 after buying an additional 30 shares during the period. LOM Asset Management Ltd grew its holdings in Amgen by 1.2% in the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock valued at $721,000 after buying an additional 30 shares during the period. Finally, Smith Salley Wealth Management grew its holdings in shares of Amgen by 0.3% during the 4th quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: The European Commission approved Amgen’s Imdylltra for extensive-stage small cell lung cancer after phase III data showed a 40% reduction in the risk of death, a meaningful catalyst that could boost future sales and investor sentiment. EC approval for Amgen’s Imdylltra
• Positive Sentiment: Multiple follow-up reports highlighted the same EU approval, reinforcing the market’s view that Amgen is adding a potentially important growth driver to its oncology portfolio. Amgen Secures EU Nod for Imdylltra in Lung Cancer Indication
• Neutral Sentiment: Zacks also pointed to Amgen as a strong momentum stock, which supports the bullish technical narrative but does not add a new business-specific catalyst. Here's Why Amgen (AMGN) is a Strong Momentum Stock
• Neutral Sentiment: Analyst commentary on Amgen’s valuation suggests some upside remains, but it also notes that recent gains may already reflect much of the optimism, creating a more balanced long-term view. How The Amgen (AMGN) Story Is Evolving As Rare Disease Upside Meets Valuation Caution

Insider Activity

In other Amgen 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 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. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler decreased their target price on Amgen from $432.00 to $427.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. Wells Fargo & Company boosted their target price on Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a report on Thursday, March 19th. Leerink Partners reiterated a "market perform" rating and set a $355.00 target price on shares of Amgen in a report on Thursday, March 5th. Barclays assumed coverage on Amgen in a report on Friday, February 20th. They set an "equal weight" rating and a $350.00 target price for the company. Finally, Guggenheim decreased their target price on Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $355.19.

Amgen Stock Performance

Shares of AMGN opened at $328.26 on Wednesday. The business's 50 day moving average is $342.12 and its two-hundred day moving average is $345.42. Amgen Inc. has a 52-week low of $267.83 and a 52-week high of $391.29. The firm has a market cap of $177.17 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 3.30 and a beta of 0.42. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) 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 company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the company posted $4.90 EPS. 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. Analysts forecast that Amgen Inc. will post 22.37 EPS for the current fiscal year.

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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