Investment Management Corp of Ontario Has $15.37 Million Stake in Amgen Inc. $AMGN

Key Points

• Investment Management Corp of Ontario increased its Amgen stake by 79.7% in the fourth quarter, ending with 46,956 shares worth about $15.37 million.
• Amgen reported better-than-expected Q1 earnings, posting $5.15 EPS versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• Wall Street remains mixed on the stock, with analysts assigning an average Hold rating and a consensus price target of $354.42.

Investment Management Corp of Ontario boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 79.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,956 shares of the medical research company's stock after buying an additional 20,822 shares during the quarter. Investment Management Corp of Ontario's holdings in Amgen were worth $15,369,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in Amgen by 10.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock worth $157,584,000 after purchasing an additional 43,884 shares in the last quarter. Curtis Advisory Group LLC acquired a new position in Amgen in the fourth quarter worth $1,669,000. Adell Harriman & Carpenter Inc. boosted its stake in Amgen by 7.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after purchasing an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Amgen during the fourth quarter worth approximately $22,441,000. Finally, Sigma Planning Corp lifted its position in shares of Amgen by 24.0% during the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after purchasing an additional 3,488 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the 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 transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is owned by corporate insiders.

Amgen Trading Down 1.8%

Shares of AMGN opened at $341.66 on Thursday. The stock's fifty day simple moving average is $341.01 and its 200-day simple moving average is $345.86. Amgen Inc. has a 12-month low of $267.83 and a 12-month high of $391.29. The firm has a market capitalization of $184.40 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.49 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 quarterly earnings data 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. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business 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 business posted $4.90 earnings per share. Amgen's revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, research analysts predict that Amgen Inc. will post 22.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Canaccord Genuity Group started coverage on shares of Amgen in a research report on Monday, April 20th. They set a "hold" rating and a $366.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Truist Financial upped their target price on shares of Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. Finally, UBS Group upped their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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