Amgen Inc. $AMGN Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,838 shares of the medical research company’s stock after purchasing an additional 2,821 shares during the quarter. iA Global Asset Management Inc.’s holdings in Amgen were worth $17,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD National Bancorp IN grew its holdings in shares of Amgen by 296.2% in the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC grew its holdings in shares of Amgen by 3.9% in the first quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after purchasing an additional 612 shares in the last quarter. Founders Financial Alliance LLC grew its holdings in shares of Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Amgen by 14.2% in the second quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Amgen by 2.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after purchasing an additional 7,308 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 2.2%

NASDAQ AMGN opened at $298.43 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The stock has a market capitalization of $160.66 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The firm has a 50 day moving average of $287.75 and a two-hundred day moving average of $287.46.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Raymond James Financial assumed coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley boosted their price target on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $300.94.

Amgen Company Profile

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.