Kentucky Retirement Systems Buys 28,492 Shares of Amgen Inc. $AMGN

Kentucky Retirement Systems increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 84.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,262 shares of the medical research company's stock after acquiring an additional 28,492 shares during the period. Amgen accounts for about 0.8% of Kentucky Retirement Systems' holdings, making the stock its 28th largest position. Kentucky Retirement Systems' holdings in Amgen were worth $21,907,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Strategic Investment Advisors MI boosted its holdings in shares of Amgen by 50.0% during the 1st quarter. Strategic Investment Advisors MI now owns 7,986 shares of the medical research company's stock worth $2,810,000 after buying an additional 2,662 shares during the period. Ashton Thomas Securities LLC lifted its position in Amgen by 15.6% during the 1st quarter. Ashton Thomas Securities LLC now owns 1,179 shares of the medical research company's stock worth $415,000 after acquiring an additional 159 shares during the last quarter. Sunbelt Securities Inc. lifted its position in Amgen by 1.5% during the 1st quarter. Sunbelt Securities Inc. now owns 7,658 shares of the medical research company's stock worth $2,694,000 after acquiring an additional 112 shares during the last quarter. Parvin Asset Management LLC boosted its holdings in Amgen by 1.7% during the first quarter. Parvin Asset Management LLC now owns 5,739 shares of the medical research company's stock valued at $2,019,000 after acquiring an additional 95 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Amgen by 0.7% during the first quarter. EverSource Wealth Advisors LLC now owns 19,686 shares of the medical research company's stock valued at $6,927,000 after acquiring an additional 131 shares during the period. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Canaccord Genuity Group started coverage on Amgen in a research note on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective on the stock. Guggenheim increased their target price on Amgen from $340.00 to $343.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. UBS Group raised their target price on Amgen from $400.00 to $420.00 and gave the company a "buy" rating in a report on Monday, July 13th. Argus dropped their price target on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Finally, Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $357.00.

Amgen Stock Down 1.4%

NASDAQ AMGN opened at $387.64 on Thursday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The firm has a 50-day simple moving average of $354.68 and a 200 day simple moving average of $353.11. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $398.00. The stock has a market cap of $209.21 billion, a PE ratio of 26.98, a PEG ratio of 3.98 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.90 earnings per share. On average, research analysts forecast that Amgen Inc. will post 22.31 EPS for the current year.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s monthly weight-loss drug remains a potentially significant long-term catalyst, with six Phase 3 trials underway. Success could give the company an opportunity to compete with Eli Lilly and Novo Nordisk in the fast-growing obesity-treatment market. Watch Out, Eli Lilly and Novo Nordisk: Amgen's Monthly Weight Loss Drug Has 6 Phase 3 Trials Running
• Neutral Sentiment: Amgen will report second-quarter 2026 results after the market close on August 4, followed by a conference call with management. The event is the next major catalyst for the stock, particularly for updates on earnings, guidance and the obesity-drug program. Amgen Announces Webcast of 2026 Second Quarter Financial Results
• Negative Sentiment: Analysts cited a weaker setup for Amgen’s second-quarter report, with earnings expected to decline and the company lacking the indicators typically associated with a likely earnings beat. This may be pressuring the shares ahead of the results. Earnings Preview: Amgen Q2 Earnings Expected to Decline
• Negative Sentiment: Barclays raised its Amgen price target to $360 from $350 but maintained an “equal weight” rating. Because the target remains below the stock’s recent trading level, the call signals limited near-term upside and valuation caution. Barclays Raises Amgen Price Target
• Negative Sentiment: Despite the obesity opportunity, analysis also questions whether Amgen’s candidate will be competitive enough to capture meaningful market share. That uncertainty increases the risk surrounding the company’s long-term growth strategy. Amgen Weight-Loss Drug Competition Analysis

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.

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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