The Manufacturers Life Insurance Company Grows Position in Amgen Inc. $AMGN

The Manufacturers Life Insurance Company grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,258,043 shares of the medical research company’s stock after acquiring an additional 65,753 shares during the period. The Manufacturers Life Insurance Company’s holdings in Amgen were worth $442,642,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Glen Eagle Advisors LLC lifted its position in Amgen by 2.2% during the 1st quarter. Glen Eagle Advisors LLC now owns 1,749 shares of the medical research company’s stock worth $615,000 after acquiring an additional 37 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Amgen by 17.7% in the first quarter. Quantinno Capital Management LP now owns 364,725 shares of the medical research company’s stock valued at $128,329,000 after purchasing an additional 54,742 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Amgen by 14.7% in the first quarter. Lazard Asset Management LLC now owns 50,478 shares of the medical research company’s stock valued at $17,761,000 after purchasing an additional 6,475 shares during the last quarter. Orbimed Advisors LLC acquired a new stake in Amgen during the 1st quarter valued at approximately $14,039,000. Finally, Gateway Wealth Partners LLC grew its stake in Amgen by 224.1% during the 1st quarter. Gateway Wealth Partners LLC now owns 4,323 shares of the medical research company’s stock valued at $1,521,000 after purchasing an additional 2,989 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $376.26 on Tuesday. The company has a market cap of $203.07 billion, a PE ratio of 26.18, a P/E/G ratio of 3.80 and a beta of 0.41. The company has a fifty day moving average price of $352.31 and a two-hundred day moving average price of $352.35. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $391.29.

Amgen (NASDAQ:AMGN) last released 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. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts expect that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were 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 $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMGN shares. Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Mizuho raised their price objective on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Piper Sandler restated an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Finally, UBS Group increased their price target on shares of Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Two equities 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 given a Sell rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $356.62.

About Amgen

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.