Janney Montgomery Scott LLC Decreases Stake in Amgen Inc. $AMGN

Key Points

• Janney Montgomery Scott LLC reduced its Amgen stake by 3.5% in the first quarter, selling 15,043 shares and ending with 416,010 shares valued at about $146.4 million.
• Amgen posted stronger-than-expected quarterly results, reporting EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment is mixed but cautious, with several firms maintaining neutral or hold views and the consensus rating sitting at “Hold” with an average price target of $354.42.

Janney Montgomery Scott LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 416,010 shares of the medical research company's stock after selling 15,043 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.08% of Amgen worth $146,373,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. High Note Wealth LLC lifted its stake in Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. increased its position in shares of Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after purchasing an additional 28 shares during the last quarter. Verus Capital Partners LLC raised its holdings in shares of Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after purchasing an additional 28 shares in the last quarter. Destination Wealth Management raised its holdings in shares of Amgen by 2.1% in the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock valued at $456,000 after purchasing an additional 29 shares in the last quarter. Finally, Breakwater Capital Group lifted its position in shares of Amgen by 1.4% during the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock worth $717,000 after purchasing an additional 29 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $358.61 on Friday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $391.29. The firm has a market capitalization of $193.54 billion, a P/E ratio of 24.96, a P/E/G ratio of 3.60 and a beta of 0.42. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company's fifty day moving average price is $340.70 and its 200 day moving average price is $346.20.

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 (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion during 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%. Amgen's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMGN. Weiss Ratings reiterated a "buy (b)" rating on shares of Amgen in a research note on Thursday, June 18th. Guggenheim decreased their price target on Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research report on Wednesday, April 8th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Leerink Partners reissued a "market perform" rating and set a $355.00 target price on shares of Amgen in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $354.42.

Amgen Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.