Amgen Inc. $AMGN Shares Sold by Burney Co.

Burney Co. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 15.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,686 shares of the medical research company’s stock after selling 2,994 shares during the quarter. Burney Co.’s holdings in Amgen were worth $5,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. High Note Wealth LLC increased its stake in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. grew its holdings in Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC grew its holdings in Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after purchasing an additional 28 shares during the period. Destination Wealth Management increased its position in Amgen by 2.1% during the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after purchasing an additional 29 shares during the last quarter. Finally, Breakwater Capital Group increased its position in Amgen by 1.4% during the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock worth $717,000 after purchasing an additional 29 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMGN shares. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 price objective on shares of Amgen in a report on Monday. The Goldman Sachs Group set a $389.00 target price on Amgen in a report on Friday, June 5th. Erste Group Bank reissued a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Finally, Mizuho upped their price target on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $356.00.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Zacks upgraded Amgen to a Buy (Rank #2), signaling improving earnings outlook and potentially supporting the stock in the near term. Amgen (AMGN) Upgraded to Buy: What Does It Mean for the Stock?
• Positive Sentiment: Truist raised its price target on Amgen from $327 to $340, indicating somewhat better valuation expectations, even while keeping a Hold rating. Benzinga report on Truist price target increase
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating with a $350 target, suggesting the stock is viewed as fairly valued relative to recent levels. Benzinga report on Cantor Fitzgerald rating
• Neutral Sentiment: Amgen’s stock also drew attention from market commentary noting it had been slipping while the broader market advanced, reflecting relative underperformance rather than a company-specific catalyst. Amgen (AMGN) Stock Dips While Market Gains: Key Facts
• Negative Sentiment: Investor sentiment remains weighed down by Tavneos scrutiny, including FDA efforts to challenge the drug’s approval and the retraction of a key supporting study, which could cloud Amgen’s sales outlook and pipeline confidence. Amgen Slides as Tavneos Scrutiny and Pipeline Questions Weigh on Shares

Amgen Price Performance

Amgen stock opened at $366.44 on Tuesday. The firm has a fifty day moving average of $342.43 and a 200-day moving average of $348.09. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market capitalization of $197.77 billion, a P/E ratio of 25.50, a PEG ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share 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 business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the business posted $4.90 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts predict that Amgen Inc. will post 22.39 EPS for the current year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.