Entropy Technologies LP Buys Shares of 9,161 Amgen Inc. $AMGN

Entropy Technologies LP acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,161 shares of the medical research company's stock, valued at approximately $3,223,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Vanguard Group Inc. increased its stake in shares of Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after purchasing an additional 961,975 shares during the period. State Street Corp boosted its position in shares of Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after buying an additional 1,287,310 shares during the period. Capital World Investors grew its holdings in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC grew its holdings in Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amgen in the 4th quarter valued at approximately $2,164,162,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. BMO Capital Markets reissued an "outperform" rating and issued a $400.00 price target on shares of Amgen in a research note on Wednesday, July 1st. Royal Bank Of Canada reissued a "positive" rating on shares of Amgen in a research note on Thursday, June 18th. Cantor Fitzgerald reissued a "neutral" rating and issued a $350.00 price objective on shares of Amgen in a research note on Monday, July 6th. Finally, Morgan Stanley dropped their target price on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $356.62.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Amgen Price Performance

AMGN stock opened at $376.04 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. The firm has a market capitalization of $202.95 billion, a PE ratio of 26.17, a P/E/G ratio of 3.80 and a beta of 0.41. The firm has a 50-day moving average of $351.28 and a two-hundred day moving average of $351.80.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results 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. The business had revenue of $8.62 billion for 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 firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current 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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