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

Louisiana State Employees Retirement System bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,800 shares of the medical research company’s stock, valued at approximately $22,096,000.

A number of other large investors have also recently modified their holdings of the business. Anfield Capital Management LLC raised its holdings in shares of Amgen by 1,000.0% during 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 in the last quarter. Dogwood Wealth Management LLC grew its position in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Amgen in the fourth quarter valued at about $26,000. Tower View Wealth Management LLC raised its stake in Amgen by 331.6% during 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 raised its stake in Amgen by 49.2% during 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 in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $352.82 on Friday. The stock’s 50 day moving average is $340.49 and its 200 day moving average is $346.11. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. The firm has a market cap of $190.42 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.53 and a beta of 0.42. 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 released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share 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 during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm posted $4.90 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, research analysts expect that Amgen Inc. will post 22.38 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on 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 transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. Wells Fargo & Company raised their price target on shares of Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Leerink Partners reiterated a “market perform” rating and set a $355.00 price objective on shares of Amgen in a research report on Thursday, March 5th. Daiwa Securities Group dropped their price objective on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Finally, Morgan Stanley upped their price target on shares of Amgen from $332.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $354.42.

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.