Cannell & Spears LLC Cuts Holdings in Amgen Inc. $AMGN

Cannell & Spears LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 21.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,717 shares of the medical research company’s stock after selling 2,386 shares during the quarter. Cannell & Spears LLC’s holdings in Amgen were worth $3,059,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. 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 worth $25,000 after acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Tower View Wealth Management LLC raised its position 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 valued at $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC lifted 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 purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in Amgen during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.2%

AMGN opened at $376.04 on Friday. The company has a market cap of $202.95 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.80 and a beta of 0.41. The business’s 50-day moving average price is $351.28 and its 200-day moving average price is $351.80. 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 Inc. has a 12 month low of $269.77 and a 12 month high of $391.29.

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. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts expect that Amgen Inc. will post 22.31 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the business’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 value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Daiwa Securities Group decreased their price target on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Argus decreased their price target on shares of Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $356.62.

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.