Forum Financial Management LP Trims Holdings in Amgen Inc. $AMGN

Forum Financial Management LP trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 1st quarter, Holdings Channel reports. The fund owned 347,970 shares of the medical research company’s stock after selling 2,792 shares during the quarter. Amgen accounts for about 1.7% of Forum Financial Management LP’s investment portfolio, making the stock its 11th biggest position. Forum Financial Management LP’s holdings in Amgen were worth $122,433,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AMGN. Anfield Capital Management LLC grew its stake in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Dogwood Wealth Management LLC raised its stake in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after buying an additional 55 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Amgen during the fourth quarter valued at $26,000. Tower View Wealth Management LLC boosted its holdings in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after acquiring an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after acquiring an additional 32 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.6%

Shares of NASDAQ:AMGN opened at $360.55 on Tuesday. 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 1 year low of $269.77 and a 1 year high of $391.29. The company has a market cap of $194.59 billion, a P/E ratio of 25.09, a PEG ratio of 3.60 and a beta of 0.42. The stock’s fifty day moving average price is $340.92 and its 200-day moving average price is $346.71.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the company earned $4.90 EPS. Amgen’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. Sell-side analysts expect that Amgen Inc. will post 22.38 earnings per share for the current year.

Insider Activity at Amgen

In other 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 directly owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMGN shares. Wells Fargo & Company raised their price target on Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a report on Thursday, March 19th. Mizuho raised their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. Truist Financial lifted their target price on shares of Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a report on Friday, May 1st. 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a research note on Wednesday, April 8th. Two 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 company. According to data from MarketBeat, the company has an average 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.