Amgen Inc. $AMGN is Torray Investment Partners LLC’s 8th Largest Position

Torray Investment Partners LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 21.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 69,858 shares of the medical research company’s stock after acquiring an additional 12,539 shares during the period. Amgen accounts for approximately 2.8% of Torray Investment Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Torray Investment Partners LLC’s holdings in Amgen were worth $19,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Telos Capital Management Inc. boosted its position in shares of Amgen by 7.4% during the second quarter. Telos Capital Management Inc. now owns 27,672 shares of the medical research company’s stock valued at $7,726,000 after purchasing an additional 1,912 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Amgen by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 146,197 shares of the medical research company’s stock valued at $40,820,000 after buying an additional 500 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of Amgen during the 2nd quarter valued at $551,000. iA Global Asset Management Inc. boosted its holdings in shares of Amgen by 4.6% during the 2nd quarter. iA Global Asset Management Inc. now owns 63,838 shares of the medical research company’s stock valued at $17,824,000 after buying an additional 2,821 shares in the last quarter. Finally, Mission Wealth Management LP boosted its holdings in shares of Amgen by 3.4% during the 2nd quarter. Mission Wealth Management LP now owns 11,370 shares of the medical research company’s stock valued at $3,175,000 after buying an additional 379 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 2.2%

Amgen stock opened at $298.43 on Monday. The firm has a market cap of $160.66 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.61 and a beta of 0.49. The stock has a fifty day simple moving average of $287.75 and a two-hundred day simple moving average of $287.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the company earned $4.97 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. 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 business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AMGN. Bank of America boosted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, UBS Group lowered their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $300.94.

Amgen 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.