Voleon Capital Management LP Acquires 1,549 Shares of Amgen Inc. $AMGN

Key Points

• Voleon Capital Management LP increased its stake in Amgen Inc. by 26.5% in the first quarter, owning a total of 7,396 shares valued at approximately $2.3 million.
• Several other institutional investors also adjusted their holdings in Amgen, with significant increases including Activest Wealth Management boosting its stake by 3,433.3% during the same quarter.
• Amgen's stock is currently rated as a Hold by market analysts, with a consensus target price of $304.43 as various firms adjust their price targets following recent performances.

Voleon Capital Management LP boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,396 shares of the medical research company's stock after buying an additional 1,549 shares during the quarter. Voleon Capital Management LP's holdings in Amgen were worth $2,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC acquired a new position in Amgen during the first quarter worth approximately $25,000. Pinney & Scofield Inc. acquired a new position in Amgen during the fourth quarter worth approximately $26,000. First Pacific Financial increased its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Activest Wealth Management increased its position in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in Amgen during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of AMGN stock traded down $6.34 during trading on Friday, hitting $276.39. The company had a trading volume of 2,143,109 shares, compared to its average volume of 1,853,902. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $148.80 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 2.40 and a beta of 0.49. The stock's 50-day moving average price is $292.54 and its 200 day moving average price is $291.56. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler upped their target price on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research report on Monday, August 25th. Finally, Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $304.43.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.