BTC Capital Management Inc. Raises Stock Position in Amgen Inc. $AMGN

BTC Capital Management Inc. grew its stake in Amgen Inc. (NASDAQ:AMGN) by 21.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,267 shares of the medical research company’s stock after purchasing an additional 1,455 shares during the quarter. BTC Capital Management Inc.’s holdings in Amgen were worth $2,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Amgen by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after acquiring an additional 43,884 shares in the last quarter. Curtis Advisory Group LLC bought a new position in Amgen in the 4th quarter worth about $1,669,000. Adell Harriman & Carpenter Inc. grew its position in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock valued at $7,204,000 after purchasing an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Amgen during the 4th quarter valued at about $22,441,000. Finally, Robinhood Asset Management LLC bought a new stake in Amgen during the 4th quarter valued at about $17,526,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $351.64 on Thursday. The firm’s 50-day moving average price is $340.45 and its 200-day moving average price is $345.95. 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 company has a market cap of $189.78 billion, a PE ratio of 24.47, a PEG ratio of 3.48 and a beta of 0.42. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the business posted $4.90 earnings per share. The business’s revenue for the quarter 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 anticipate that Amgen Inc. will post 22.38 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. UBS Group upped their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Truist Financial boosted their price objective on shares of Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Mizuho upped their price objective on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research report on Tuesday, June 16th. Finally, Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $354.42.

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.