Resources Management Corp CT ADV Buys New Position in Amgen Inc. $AMGN

Key Points

• Resources Management Corp CT ADV opened a new position in Amgen during the fourth quarter, buying 3,637 shares worth about $1.19 million.
• Amgen continues to draw heavy institutional interest, with major holders like Vanguard, State Street, and Capital World Investors increasing their stakes; institutions and hedge funds now own 76.5% of the company.
• The company’s recent earnings topped expectations, and pipeline updates remain a focus, including progress in the ABP 938 eye-disease trial and the MARITIME-SWITCH obesity study, though Tavneos faces regulatory pressure from a proposed FDA withdrawal.

Resources Management Corp CT ADV bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,637 shares of the medical research company's stock, valued at approximately $1,190,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after buying an additional 961,975 shares during the last quarter. State Street Corp increased its position in shares of Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the last quarter. Capital World Investors increased its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. Capital International Investors increased its position in shares of Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock worth $5,414,296,000 after purchasing an additional 282,219 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its phase 3 ABP 938 eye-disease study is advancing, with the drug aimed at challenging Regeneron’s Eylea HD in a major retina market. That keeps Amgen’s pipeline in focus as a potential future growth driver. Article Title
• Positive Sentiment: Amgen also highlighted its MARITIME-SWITCH phase 3 obesity trial, which is designed to capture GLP-1 switchers. Any success in obesity treatment could open another large market and improve long-term revenue expectations. Article Title
• Positive Sentiment: Some coverage pointed to Amgen as a value stock with supportive new data from the VESALIUS-CV cardiovascular study for Repatha, reinforcing confidence in the company’s broader portfolio. Article Title
• Neutral Sentiment: Amgen and outside analysts published bullish commentary on the stock’s valuation and earnings profile, but these were mostly opinion pieces rather than new business developments. Article Title
• Negative Sentiment: Investor sentiment is being pressured by reports that Amgen’s Tavneos faces a proposed FDA withdrawal, with the company seeking a hearing and commissioning an independent review to defend the drug’s data. Regulatory uncertainty around a $500 million product is a meaningful risk for the stock. Article Title
• Negative Sentiment: Reuters also reported that Amgen hired a research firm to reassess Tavneos data after FDA concerns, underscoring the regulatory overhang and near-term uncertainty for the drug. Article Title

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Amgen from $332.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Barclays assumed coverage on Amgen in a research report on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target on the stock. Guggenheim lowered their price target on Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $354.12.

Amgen Stock Performance

AMGN opened at $355.20 on Monday. The business has a fifty day simple moving average of $340.97 and a 200 day simple moving average of $345.80. The company has a market capitalization of $191.70 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42. Amgen Inc. has a 1 year low of $267.83 and a 1 year high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 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% on a year-over-year basis. During the same period in the previous year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts expect that Amgen Inc. will post 22.38 EPS for the current year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by company 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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