Buffalo Business & Estate Services Ltd. Cuts Holdings in Amgen Inc. $AMGN

Buffalo Business & Estate Services Ltd. lowered its position in Amgen Inc. (NASDAQ:AMGN) by 9.9% during the first quarter, Holdings Channel.com reports. The fund owned 15,053 shares of the medical research company’s stock after selling 1,663 shares during the quarter. Amgen accounts for 0.8% of Buffalo Business & Estate Services Ltd.’s holdings, making the stock its 24th largest holding. Buffalo Business & Estate Services Ltd.’s holdings in Amgen were worth $5,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. State Street Corp increased its position in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares in the last quarter. Capital World Investors raised its stake in shares of Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the period. Capital International Investors lifted its holdings in shares of Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock valued at $5,414,296,000 after acquiring an additional 282,219 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of AMGN stock opened at $344.72 on Tuesday. The firm has a fifty day moving average of $340.50 and a two-hundred day moving average of $345.86. The firm has a market cap of $186.05 billion, a P/E ratio of 23.99, a P/E/G ratio of 3.39 and a beta of 0.42. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29. 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 (NASDAQ:AMGN) last issued 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 net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the business posted $4.90 EPS. The company’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, research analysts anticipate that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent research reports. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Argus lowered their price objective on shares of Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Jefferies Financial Group began coverage on shares of Amgen in a research report on Tuesday, March 10th. They set a “hold” rating and a $350.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.