Flagship Harbor Advisors LLC Lowers Holdings in Amgen Inc. $AMGN

Flagship Harbor Advisors LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,975 shares of the medical research company’s stock after selling 103 shares during the period. Flagship Harbor Advisors LLC’s holdings in Amgen were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the 1st quarter worth approximately $688,868,000. Federated Hermes Inc. lifted its position in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after buying an additional 600,096 shares during the last quarter. WoodTrust Financial Corp lifted its position in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after buying an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $156,812,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 0.1%

Shares of AMGN stock opened at $292.00 on Friday. The business’s fifty day moving average price is $287.66 and its 200 day moving average price is $287.48. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm has a market capitalization of $157.20 billion, a PE ratio of 23.88, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

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. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. UBS Group dropped their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Citigroup boosted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $300.94.

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.