Flagship Harbor Advisors LLC Decreases Stock Position in Amgen Inc. $AMGN

Flagship Harbor Advisors LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,975 shares of the medical research company’s stock after selling 103 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Amgen were worth $831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. OLD National Bancorp IN grew its holdings in Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after buying an additional 13,460 shares during the period. Trinity Legacy Partners LLC increased its stake in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after acquiring an additional 612 shares during the last quarter. Founders Financial Alliance LLC increased its stake in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after acquiring an additional 42 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Amgen by 14.2% during the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after acquiring an additional 11,888 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Amgen by 2.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after acquiring an additional 7,308 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMGN. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Finally, Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $300.94.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Up 0.1%

NASDAQ AMGN opened at $292.00 on Friday. The stock has a market cap of $157.20 billion, a PE ratio of 23.88, a P/E/G ratio of 2.61 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a 50 day moving average price of $287.66 and a two-hundred day moving average price of $287.48. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The firm 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%.Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

About Amgen

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.