Amgen Inc. $AMGN Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 20.5% in the first quarter, HoldingsChannel.com reports. The firm owned 94,383 shares of the medical research company’s stock after buying an additional 16,029 shares during the period. QRG Capital Management Inc.’s holdings in Amgen were worth $33,209,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Anfield Capital Management LLC lifted its holdings in shares of 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 buying an additional 70 shares during the period. Dogwood Wealth Management LLC raised its position in Amgen by 275.0% in 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. Board of the Pension Protection Fund bought a new stake in Amgen in the fourth quarter worth about $26,000. Tower View Wealth Management LLC lifted its holdings in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC lifted its holdings in Amgen by 49.2% in 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. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN opened at $374.15 on Friday. The business’s 50-day moving average price is $342.43 and its 200 day moving average price is $347.93. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock has a market capitalization of $201.93 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.68 and a beta of 0.41. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the firm earned $4.90 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts expect that Amgen Inc. will post 22.39 earnings per share for the current year.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’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 transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was 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. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMGN shares. Canaccord Genuity Group initiated coverage on shares of Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 price objective for the company. Wells Fargo & Company increased their target price 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. Erste Group Bank restated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Truist Financial lifted their price target on shares of Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price target on Amgen from $332.00 to $340.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $355.50.

Amgen 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.