Hodges Capital Management Inc. Increases Stock Holdings in Amgen Inc. $AMGN

Key Points

• Hodges Capital Management boosted its Amgen stake by 75.4% in the first quarter, buying 3,620 additional shares and bringing its total holdings to 8,424 shares valued at about $2.96 million.
• Amgen reported strong quarterly results, with EPS of $5.15 beating estimates and revenue of $8.62 billion slightly above expectations; the company also raised its FY 2026 guidance to 21.7–23.1 EPS.
• Sentiment around the stock is mixed: analysts’ consensus remains Hold with a $356 average price target, while recent updates included a Zacks Buy upgrade and a Truist price-target increase to $340.

Hodges Capital Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 75.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,424 shares of the medical research company's stock after purchasing an additional 3,620 shares during the period. Hodges Capital Management Inc.'s holdings in Amgen were worth $2,964,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $2,164,162,000. Capital World Investors raised its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after buying an additional 4,302,237 shares during the period. State Street Corp lifted its holdings in Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock valued at $10,012,872,000 after acquiring an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC grew its position in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares during the period. Finally, Amundi grew its position in Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company's stock worth $1,111,854,000 after acquiring an additional 988,856 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 2.1%

Shares of NASDAQ AMGN opened at $366.44 on Tuesday. 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 business's 50 day moving average is $342.43 and its two-hundred day moving average is $348.09. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The firm has a market cap of $197.77 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business posted $4.90 earnings per share. The company'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. Research analysts predict that Amgen Inc. will post 22.39 EPS for the current year.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Amgen from $327.00 to $340.00 and gave the company a "hold" rating in a research report on Tuesday. Mizuho raised their price objective on Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 16th. Guggenheim reduced their price objective on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Piper Sandler restated an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $400.00 target price on shares of Amgen in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $356.00.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Zacks upgraded Amgen to a Buy (Rank #2), signaling improving earnings outlook and potentially supporting the stock in the near term. Amgen (AMGN) Upgraded to Buy: What Does It Mean for the Stock?
• Positive Sentiment: Truist raised its price target on Amgen from $327 to $340, indicating somewhat better valuation expectations, even while keeping a Hold rating. Benzinga report on Truist price target increase
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating with a $350 target, suggesting the stock is viewed as fairly valued relative to recent levels. Benzinga report on Cantor Fitzgerald rating
• Neutral Sentiment: Amgen’s stock also drew attention from market commentary noting it had been slipping while the broader market advanced, reflecting relative underperformance rather than a company-specific catalyst. Amgen (AMGN) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: Investor sentiment remains weighed down by Tavneos scrutiny, including FDA efforts to challenge the drug’s approval and the retraction of a key supporting study, which could cloud Amgen’s sales outlook and pipeline confidence. Amgen Slides as Tavneos Scrutiny and Pipeline Questions Weigh on Shares

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is owned by company insiders.

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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