Amgen Inc. $AMGN Shares Acquired by Madison Asset Management LLC

Madison Asset Management LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 17.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,552 shares of the medical research company’s stock after acquiring an additional 1,755 shares during the period. Madison Asset Management LLC’s holdings in Amgen were worth $4,065,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. State Street Corp raised its holdings in shares of Amgen by 4.4% in 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 buying an additional 1,287,310 shares during the last quarter. Capital World Investors lifted its stake 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 buying an additional 4,302,237 shares during the period. Geode Capital Management LLC lifted its stake 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 buying an additional 1,035,779 shares during the period. Finally, Norges Bank purchased a new stake in shares of Amgen during the fourth quarter valued at $2,164,162,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.6%

NASDAQ AMGN opened at $366.24 on Wednesday. The company has a market capitalization of $197.66 billion, a PE ratio of 25.49, a P/E/G ratio of 3.68 and a beta of 0.41. The company has a fifty day moving average of $348.98 and a 200 day moving average of $351.05. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s 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 in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 price target on shares of Amgen in a research report on Wednesday, July 1st. Truist Financial boosted their price target on Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. UBS Group increased their price objective on Amgen from $400.00 to $420.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $356.62.

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.