Amgen Inc. $AMGN Shares Purchased by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Amgen stake by 14.7% in the first quarter, owning 50,478 shares valued at $17.8 million. Institutional investors collectively hold 76.5% of Amgen’s stock.
• Amgen’s latest quarterly results exceeded expectations, with adjusted EPS of $5.15 and revenue of $8.62 billion, up 5.8% year over year. The company is scheduled to report second-quarter results on August 4, though analysts anticipate weaker earnings.
• The company’s investigational monthly weight-loss drug remains a major long-term catalyst, with six Phase 3 trials underway, but its ability to compete with Eli Lilly and Novo Nordisk remains uncertain. Analysts maintain a broadly cautious stance, with a consensus rating of “Hold.”

Lazard Asset Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,478 shares of the medical research company's stock after purchasing an additional 6,475 shares during the quarter. Lazard Asset Management LLC's holdings in Amgen were worth $17,761,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $17,949,296,000 after acquiring an additional 961,975 shares in the last quarter. State Street Corp increased its stake in shares of Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Capital World Investors raised its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 last quarter. Finally, Norges Bank purchased a new stake in Amgen in the 4th quarter valued at approximately $2,164,162,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s monthly weight-loss drug remains a potentially significant long-term catalyst, with six Phase 3 trials underway. Success could give the company an opportunity to compete with Eli Lilly and Novo Nordisk in the fast-growing obesity-treatment market. Watch Out, Eli Lilly and Novo Nordisk: Amgen's Monthly Weight Loss Drug Has 6 Phase 3 Trials Running
• Neutral Sentiment: Amgen will report second-quarter 2026 results after the market close on August 4, followed by a conference call with management. The event is the next major catalyst for the stock, particularly for updates on earnings, guidance and the obesity-drug program. Amgen Announces Webcast of 2026 Second Quarter Financial Results
• Negative Sentiment: Analysts cited a weaker setup for Amgen’s second-quarter report, with earnings expected to decline and the company lacking the indicators typically associated with a likely earnings beat. This may be pressuring the shares ahead of the results. Earnings Preview: Amgen Q2 Earnings Expected to Decline
• Negative Sentiment: Barclays raised its Amgen price target to $360 from $350 but maintained an “equal weight” rating. Because the target remains below the stock’s recent trading level, the call signals limited near-term upside and valuation caution. Barclays Raises Amgen Price Target
• Negative Sentiment: Despite the obesity opportunity, analysis also questions whether Amgen’s candidate will be competitive enough to capture meaningful market share. That uncertainty increases the risk surrounding the company’s long-term growth strategy. Amgen Weight-Loss Drug Competition Analysis

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's 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 sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Amgen Trading Down 1.4%

NASDAQ AMGN opened at $387.64 on Thursday. The company has a market cap of $209.21 billion, a P/E ratio of 26.98, a P/E/G ratio of 3.98 and a beta of 0.41. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $398.00. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company has a 50-day moving average of $354.68 and a 200-day moving average of $353.11.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $8.58 billion. During the same period last year, the company earned $4.90 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 22.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on AMGN shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $350.00 target price on shares of Amgen in a report on Monday, July 6th. Daiwa Securities Group reduced their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Barclays increased their price objective on Amgen from $350.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday. Argus cut their target price on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group began coverage on shares of Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $357.00.

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.

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