NewEdge Wealth LLC Grows Position in Amgen Inc. $AMGN

NewEdge Wealth LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,737 shares of the medical research company’s stock after acquiring an additional 4,299 shares during the quarter. NewEdge Wealth LLC’s holdings in Amgen were worth $51,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Brighton Jones LLC raised its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after buying an additional 114 shares during the period. Schnieders Capital Management LLC. boosted its position in Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after acquiring an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in Amgen by 11.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after acquiring an additional 416 shares during the period. Finally, Ieq Capital LLC grew its stake in Amgen by 5.1% in the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock worth $15,120,000 after acquiring an additional 2,611 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 several analyst reports. Canaccord Genuity Group assumed coverage on Amgen in a report on Monday, April 20th. They issued a “hold” rating and a $366.00 price target for the company. Argus lowered their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a research note on Monday, July 6th. Mizuho increased their target price on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $400.00 target price on shares of Amgen in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $356.62.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the business’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 completion of the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $366.05 on Thursday. The company has a market cap of $197.56 billion, a P/E ratio of 25.47, a P/E/G ratio of 3.71 and a beta of 0.41. The firm’s 50 day moving average is $349.58 and its two-hundred day moving average is $351.32. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two 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.

Amgen (NASDAQ:AMGN) last announced 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 company 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts expect that Amgen Inc. will post 22.31 EPS for the current year.

Amgen Company 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.