Strs Ohio Cuts Stake in Amgen Inc. $AMGN

Key Points

• Strs Ohio reduced its Amgen stake by 7.3% in the first quarter, selling 10,104 shares and leaving it with 128,783 shares valued at about $45.3 million.
• Amgen reported strong first-quarter results, with EPS of $5.15 beating estimates and revenue of $8.62 billion slightly topping expectations; the company also reiterated FY 2026 EPS guidance of 21.7 to 23.1.
• Analyst sentiment remains mixed but generally constructive: the stock has an average Hold rating with a consensus price target of $355.50, while recent reports have included both upgrades and target increases.

Strs Ohio lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,783 shares of the medical research company's stock after selling 10,104 shares during the quarter. Strs Ohio's holdings in Amgen were worth $45,312,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMGN. Eagle Bay Advisors LLC grew its holdings in Amgen by 5.3% during the first quarter. Eagle Bay Advisors LLC now owns 1,173 shares of the medical research company's stock valued at $413,000 after purchasing an additional 59 shares during the period. Boston Trust Walden Corp raised its stake in shares of Amgen by 17.6% in the first quarter. Boston Trust Walden Corp now owns 84,552 shares of the medical research company's stock valued at $29,750,000 after buying an additional 12,647 shares during the period. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Amgen by 3.0% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 6,895 shares of the medical research company's stock valued at $2,426,000 after buying an additional 204 shares during the period. TSG Advice Partners LLC lifted its position in shares of Amgen by 10.8% during the 1st quarter. TSG Advice Partners LLC now owns 709 shares of the medical research company's stock valued at $250,000 after buying an additional 69 shares during the last quarter. Finally, BetterWealth LLC purchased a new position in shares of Amgen during the 1st quarter valued at $238,000. Institutional investors own 76.50% of the company's stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm's stock in a transaction that occurred on 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 approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $374.15 on Friday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $391.29. The stock has a market cap of $201.93 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.56 and a beta of 0.41. The stock has a fifty day moving average of $341.87 and a 200-day moving average of $347.74.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Jefferies Financial Group began coverage on Amgen in a report on Tuesday, March 10th. They issued a "hold" rating and a $350.00 price objective for the company. Guggenheim dropped their price objective on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. UBS Group increased their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Amgen has an average rating of "Hold" and an average target price of $355.50.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: A federal judge blocked Colorado’s attempt to cap the price of Amgen’s Enbrel, removing a potentially precedent-setting state-level pricing threat for one of Amgen’s most important legacy drugs. Article: Judge blocks Colorado's first-of-its-kind price cap on Amgen's Enbrel
• Positive Sentiment: Amgen continues to advance its pipeline, with updates on Rocatinlimab in asthma, evolocumab bioavailability, and AMG 133 in obesity, reinforcing the company’s long-term growth story. Article: Amgen’s Rocatinlimab Asthma Trial Reaches Phase 2 Finish Line Article: Amgen Refines Its PCSK9 Franchise with New Evolocumab Bioavailability Study Article: Amgen’s AMG 133 Trial Adds a New Data Point in the Obesity Drug Race
• Positive Sentiment: Analysts at Mizuho highlighted Amgen’s pipeline potential, especially MariTide and olpasiran, and raised their price target, signaling continued Street confidence in the company’s future growth prospects. Article: Mizuho Highlights Amgen (AMGN) Pipeline Potential With MariTide and Olpasiran
• Neutral Sentiment: Roche reported positive late-stage lung cancer data for divarasib versus drugs sold by Amgen and Bristol Myers, which adds competitive pressure in the oncology market but does not change Amgen’s fundamentals by itself. Article: Roche KRAS drug succeeds in head-to-head lung cancer study
• Negative Sentiment: A medical journal retracted a pivotal Tavneos paper, which could add to regulatory scrutiny around the drug and weigh on sentiment toward Amgen’s portfolio. Article: Medical journal retracts Tavneos pivotal paper amid wider regulatory clampdown

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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