Elevated Capital Advisors LLC Has $1.04 Million Position in Amgen Inc. $AMGN

Elevated Capital Advisors LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 146.9% during the 1st quarter, HoldingsChannel reports. The firm owned 2,960 shares of the medical research company’s stock after acquiring an additional 1,761 shares during the period. Elevated Capital Advisors LLC’s holdings in Amgen were worth $1,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its position in Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after buying an additional 961,975 shares in the last quarter. State Street Corp grew its stake in shares of Amgen by 4.4% during 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 buying an additional 1,287,310 shares during the last quarter. Capital World Investors increased its holdings in shares of Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Amgen in the 4th quarter valued at $2,164,162,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 1.2%

Shares of NASDAQ:AMGN opened at $363.62 on Friday. The firm has a market cap of $196.25 billion, a P/E ratio of 25.30, a P/E/G ratio of 3.63 and a beta of 0.41. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29. The business has a fifty day simple moving average of $344.30 and a 200 day simple moving average of $349.22. The company has a quick ratio of 1.01, a current ratio of 1.26 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 for the quarter, beating 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 analysts’ expectations of $8.58 billion. During the same quarter in the prior year, the firm posted $4.90 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen Inc. will post 22.32 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMGN shares. Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Wells Fargo & Company upped their target price on Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a report on Thursday, March 19th. Argus dropped their target price on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Daiwa Securities Group cut their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $350.00 price target on shares of Amgen in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $355.73.

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.