Redwood Investment Management LLC Buys Shares of 2,400 Amgen Inc. $AMGN

Key Points

• Redwood Investment Management initiated a position in Amgen during the second quarter, purchasing 2,400 shares valued at approximately $869,000. Institutional investors own 76.5% of the company.
• Amgen reported quarterly revenue of $10.05 billion and adjusted earnings of $6.29 per share, beating analyst expectations, while revenue rose 9.5% year over year. The company also declared a quarterly dividend of $2.52 per share, yielding about 2.3% annually.
• Analyst sentiment remains broadly neutral, with an average “Hold” rating and a $380.43 price target. Investors are watching promising Phase 3 Tezspire results in eosinophilic esophagitis, alongside pipeline and partnership risks.

Redwood Investment Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,400 shares of the medical research company's stock, valued at approximately $869,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Dogwood Wealth Management LLC lifted its holdings in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC grew its stake in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after acquiring an additional 70 shares during the period. Tower View Wealth Management LLC increased its holdings in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after acquiring an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its position in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Evergreen Advisors LLC bought a new position in shares of Amgen during the 1st quarter valued at about $37,000. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMGN shares. Canaccord Genuity Group boosted their price objective on Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Truist Financial increased their price objective on shares of Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Erste Group Bank restated a "hold" rating on shares of Amgen in a report on Tuesday, May 5th. Wells Fargo & Company lifted their price target on Amgen from $390.00 to $400.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald upped their price objective on Amgen from $350.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $380.43.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire posted strong Phase 3 results in eosinophilic esophagitis (EoE). The drug met both co-primary and all key secondary endpoints, producing statistically significant and clinically meaningful improvements in tissue inflammation and difficulty swallowing. Benefits were sustained through 52 weeks, supporting a potential third approved indication beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 results
• Positive Sentiment: The EoE opportunity could materially expand Tezspire’s commercial potential. Analysts and industry commentators view EoE as a possible blockbuster market, potentially allowing Amgen and partner AstraZeneca to compete more directly with established biologics such as Dupixent. Regulatory filing and approval remain necessary before the opportunity can translate into revenue. Tezspire EoE market opportunity
• Neutral Sentiment: Amgen began a Phase 1 study of AMG 691 aimed at a potentially important Asian market. The trial could add a long-term growth asset, but it is at an early stage and provides limited near-term earnings visibility. AMG 691 Phase 1 trial
• Negative Sentiment: Amgen ended its Crohn’s disease research collaboration with TScan Therapeutics. The decision removes an exclusive effort to identify and develop T-cell targets in inflammatory bowel disease, narrowing one element of Amgen’s early pipeline and highlighting uncertainty around its partnership strategy. Amgen ends Crohn’s disease partnership

Amgen Trading Down 0.8%

Shares of NASDAQ:AMGN opened at $436.99 on Friday. The company's 50-day moving average price is $386.75 and its two-hundred day moving average price is $364.23. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a one year low of $269.77 and a one year high of $447.03. The stock has a market capitalization of $236.25 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.18 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter last year, the company earned $6.02 EPS. Amgen's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a $2.52 dividend. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio is presently 62.65%.

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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