Investment Management Corp of Ontario Buys 20,822 Shares of Amgen Inc. $AMGN

Investment Management Corp of Ontario grew its stake in Amgen Inc. (NASDAQ:AMGN) by 79.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,956 shares of the medical research company’s stock after acquiring an additional 20,822 shares during the quarter. Investment Management Corp of Ontario’s holdings in Amgen were worth $15,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. High Note Wealth LLC raised its holdings in Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after purchasing an additional 28 shares during the period. TAGStone Capital Inc. raised 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 worth $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC raised 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 worth $403,000 after purchasing an additional 28 shares during the period. Destination Wealth Management raised its holdings in Amgen by 2.1% in 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 period. Finally, West Family Investments Inc. raised its holdings in Amgen by 1.1% in the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock worth $779,000 after purchasing an additional 30 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 1.8%

Shares of Amgen stock opened at $341.66 on Thursday. The business’s 50 day simple moving average is $341.01 and its 200 day simple moving average is $345.86. Amgen Inc. has a 52-week low of $267.83 and a 52-week high of $391.29. The firm has a market cap of $184.40 billion, a PE ratio of 23.78, a P/E/G ratio of 3.49 and a beta of 0.42. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the firm earned $4.90 EPS. Amgen’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, analysts predict that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Insider Transactions at Amgen

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Guggenheim dropped their price target on Amgen from $351.00 to $340.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Canaccord Genuity Group initiated coverage on Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $354.42.

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.