Amgen Inc. $AMGN Shares Sold by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management cut its Amgen stake by 69.7% in the first quarter, selling 36,506 shares and leaving it with 15,844 shares worth about $5.6 million.
• Amgen reported better-than-expected quarterly results, posting EPS of $5.15 on revenue of $8.62 billion, both slightly above analyst estimates, with revenue up 5.8% year over year.
• Analysts remain mixed on the stock: several firms trimmed price targets, and MarketBeat’s data shows Amgen has a consensus rating of “Hold” with an average target price of $355.50.

Simplify Asset Management Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 69.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,844 shares of the medical research company's stock after selling 36,506 shares during the quarter. Simplify Asset Management Inc.'s holdings in Amgen were worth $5,575,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the period. Sivia Capital Partners LLC boosted its stake in Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after buying an additional 114 shares during the period. Schnieders Capital Management LLC. boosted its stake in Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after buying an additional 5,853 shares during the period. Main Street Financial Solutions LLC increased its position in shares of Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after acquiring an additional 416 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Amgen by 5.1% in the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after acquiring an additional 2,611 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction 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 approximately $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.85% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $374.15 on Friday. The stock's 50 day moving average price is $342.43 and its 200 day moving average price is $347.93. The company has a market capitalization of $201.93 billion, a PE ratio of 26.04, a P/E/G ratio of 3.68 and a beta of 0.41. 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 Inc. has a 52-week low of $269.77 and a 52-week high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly 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. The firm had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, research analysts anticipate that Amgen Inc. will post 22.39 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on AMGN shares. Argus decreased their price target on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Daiwa Securities Group dropped their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Amgen in a research note on Friday, June 12th. BMO Capital Markets reiterated an "outperform" rating and issued a $400.00 price objective on shares of Amgen in a report on Wednesday. Finally, Canaccord Genuity Group assumed coverage on Amgen in a research note on Monday, April 20th. They set a "hold" rating and a $366.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $355.50.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.