Victory Capital Management Inc. Grows Holdings in Amgen Inc. $AMGN

Key Points

• Victory Capital Management increased its Amgen stake by 71.9% in the fourth quarter, adding 475,799 shares and bringing its total holdings to 1,137,313 shares worth about $372.3 million.
• Amgen’s latest quarterly results beat expectations, with earnings per share of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• The company is facing mixed news on the pipeline: positive momentum from phase 3 studies for ABP 938 and MARITIME-SWITCH, but also regulatory uncertainty around Tavneos after reports of a proposed FDA withdrawal.

Victory Capital Management Inc. raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 71.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,137,313 shares of the medical research company's stock after purchasing an additional 475,799 shares during the period. Victory Capital Management Inc. owned about 0.21% of Amgen worth $372,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased its stake in shares of Amgen by 1,000.0% during the 4th 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 last quarter. Dogwood Wealth Management LLC increased its stake in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Amgen during the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC increased its stake in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 0.3%

AMGN opened at $355.20 on Friday. The firm has a 50 day moving average price of $340.97 and a 200 day moving average price of $345.72. The company has a market cap of $191.70 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.55 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 quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results 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 firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts expect that Amgen Inc. will post 22.38 earnings per share for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the 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 sale, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.85% of the company's stock.

Amgen News Summary

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMGN. Wells Fargo & Company upped their price objective on shares of Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research note on Thursday, March 19th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research note on Wednesday, April 8th. Argus dropped their price objective on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Finally, Daiwa Securities Group dropped their price objective on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Two investment 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $354.12.

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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