Landscape Capital Management L.L.C. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 65.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,498 shares of the medical research company’s stock after selling 8,678 shares during the period. Landscape Capital Management L.L.C.’s holdings in Amgen were worth $1,472,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of AMGN. Norges Bank purchased a new stake in shares of Amgen during the fourth quarter worth about $2,164,162,000. Capital World Investors boosted its holdings in shares of Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the period. State Street Corp boosted its holdings in shares of Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after purchasing an additional 961,975 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
AMGN has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $350.00 target price on shares of Amgen in a report on Wednesday, April 8th. Jefferies Financial Group started coverage on shares of Amgen in a report on Tuesday, March 10th. They set a “hold” rating and a $350.00 target price for the company. Guggenheim lowered their price objective on shares of Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Morgan Stanley raised their price objective on shares of Amgen from $332.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Finally, Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $354.12.
Amgen Price Performance
AMGN stock opened at $350.53 on Tuesday. The firm has a 50 day moving average price of $341.03 and a 200-day moving average price of $345.86. Amgen Inc. has a 52-week low of $267.83 and a 52-week high of $391.29. The firm has a market capitalization of $189.18 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.56 and a beta of 0.42. 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 (NASDAQ:AMGN – Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. 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 earned $4.90 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts forecast that Amgen Inc. will post 22.38 EPS for the current fiscal year.
Insider Activity
In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen 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 completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.
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.
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