MV Capital Management Inc. Acquires Shares of 8,882 Amgen Inc. $AMGN

Key Points

• MV Capital Management initiated a new position in Amgen, buying 8,882 shares in the fourth quarter worth about $2.9 million.
• Institutional ownership remains high, with several other funds also adding to their Amgen holdings and hedge funds/institutions owning about 76.5% of the stock.
• Amgen reported strong quarterly results with EPS of $5.15 and revenue of $8.62 billion, both ahead of estimates, while analysts currently have an overall Hold rating and an average price target of $354.42.

MV Capital Management Inc. acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,882 shares of the medical research company's stock, valued at approximately $2,907,000.

A number of other institutional investors also recently modified their holdings of AMGN. Brighton Jones LLC grew its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after buying an additional 114 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after acquiring an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after acquiring an additional 416 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after acquiring an additional 2,611 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays began coverage on shares of Amgen in a report on Friday, February 20th. They issued an "equal weight" rating and a $350.00 price target on the stock. Royal Bank Of Canada upped their price objective on shares of Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Canaccord Genuity Group assumed coverage on shares of Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. UBS Group lifted their target price on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Finally, Argus reduced their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Two equities research 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, the company currently has an average rating of "Hold" and a consensus target price of $354.42.

Amgen Trading Down 1.2%

NASDAQ AMGN opened at $337.60 on Friday. The firm has a market capitalization of $182.21 billion, a PE ratio of 23.49, a P/E/G ratio of 3.43 and a beta of 0.42. The stock's 50 day moving average is $340.96 and its 200 day moving average is $345.81. Amgen Inc. has a twelve month low of $267.83 and a twelve month high of $391.29. 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 posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast 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 stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

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.

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