Louisiana State Employees Retirement System Buys Shares of 62,800 Amgen Inc. $AMGN

Louisiana State Employees Retirement System purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 62,800 shares of the medical research company’s stock, valued at approximately $22,096,000.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a report on Friday, June 5th. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Argus lowered their price target on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. UBS Group raised their price objective on Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Truist Financial lifted their target price on Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $354.42.

Amgen Stock Up 0.4%

Shares of AMGN opened at $352.82 on Friday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $391.29. The firm’s 50 day moving average is $340.49 and its 200-day moving average is $346.11. The stock has a market capitalization of $190.42 billion, a PE ratio of 24.55, a P/E/G ratio of 3.53 and a beta of 0.42. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

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

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company’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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

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.