Cynosure Group LLC Acquires New Position in Amgen Inc. $AMGN

Cynosure Group LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,593 shares of the medical research company’s stock, valued at approximately $521,000.

A number of other institutional investors have also modified their holdings of the business. 71 West Capital Partners bought a new stake in shares of Amgen during the 4th quarter valued at about $657,000. Faithward Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $449,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Amgen during the 4th quarter valued at about $44,000. LFG Wealth Partners LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $266,000. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Amgen by 60.3% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 33,633 shares of the medical research company’s stock valued at $11,008,000 after buying an additional 12,656 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.8%

Amgen stock opened at $347.84 on Wednesday. The firm has a 50 day simple moving average of $341.02 and a 200-day simple moving average of $345.89. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The stock has a market capitalization of $187.73 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.52 and a beta of 0.42. Amgen Inc. has a 12-month low of $267.83 and a 12-month high of $391.29.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts expect that Amgen Inc. will post 22.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Friday. 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 research report on Monday, May 4th. Truist Financial boosted their price objective on shares of Amgen from $325.00 to $327.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Finally, Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $354.42.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.85% of the stock is owned by company insiders.

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.