Torray Investment Partners LLC Trims Holdings in Amgen Inc. $AMGN

Torray Investment Partners LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 16.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 54,012 shares of the medical research company’s stock after selling 10,635 shares during the quarter. Amgen accounts for 2.8% of Torray Investment Partners LLC’s portfolio, making the stock its 15th largest position. Torray Investment Partners LLC’s holdings in Amgen were worth $19,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMGN. Anfield Capital Management LLC raised its position in 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 purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its position in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after buying an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Amgen during the fourth quarter worth $26,000. Tower View Wealth Management LLC grew its stake in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.1%

Shares of Amgen stock traded down $0.23 during trading hours on Friday, reaching $363.39. 1,632,617 shares of the company were exchanged, compared to its average volume of 2,658,015. The firm has a market cap of $196.12 billion, a PE ratio of 25.29, a PEG ratio of 3.59 and a beta of 0.41. 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 1 year low of $269.77 and a 1 year high of $391.29. The stock’s fifty day moving average is $344.81 and its 200 day moving average is $349.32.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business posted $4.90 earnings per share. Amgen’s revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 22.32 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 dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMGN shares. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Canaccord Genuity Group began coverage on shares of Amgen in a research note on Monday, April 20th. They set a “hold” rating and a $366.00 price target on the stock. Finally, Mizuho increased their price target on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $355.73.

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.