Amgen Inc. $AMGN Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Amgen stake by 8.5%, selling 107,249 shares and retaining 1.15 million shares valued at approximately $416.7 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly EPS of $6.29, exceeding estimates of $5.62, while revenue reached $10.05 billion, up 9.5% year over year. The company also declared a quarterly dividend of $2.52 per share, representing a 2.6% annualized yield.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $381.68 price target. Shares opened at $382.47 after falling 2.2%, amid concerns about biosimilar pressure on Prolia and XGEVA and uncertainty surrounding parts of Amgen’s pipeline.

The Manufacturers Life Insurance Company lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,150,794 shares of the medical research company's stock after selling 107,249 shares during the quarter. The Manufacturers Life Insurance Company owned 0.21% of Amgen worth $416,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tower View Wealth Management LLC increased its stake in shares of 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 buying an additional 63 shares during the period. Evergreen Advisors LLC acquired a new position in Amgen during the 1st quarter worth approximately $37,000. Sfam LLC purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $38,000. Advocate Investing Services LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $39,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Amgen during the 4th quarter worth $44,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 2.2%

Shares of Amgen stock opened at $382.47 on Friday. The company's fifty day moving average is $400.31 and its two-hundred day moving average is $367.85. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $447.03. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company has a market capitalization of $206.77 billion, a P/E ratio of 23.77, a PEG ratio of 2.82 and a beta of 0.43.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts forecast that Amgen Inc. will post 22.97 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.6%. Amgen's dividend payout ratio (DPR) is currently 62.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Robert W. Baird increased their target price on Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. UBS Group upped their price objective on Amgen from $420.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. BMO Capital Markets lowered Amgen from an "outperform" rating to a "market perform" rating and set a $450.00 target price on the stock. in a research report on Tuesday. Morgan Stanley restated an "overweight" rating and set a $362.00 target price on shares of Amgen in a research note on Wednesday, August 19th. Finally, Argus increased their price target on shares of Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $381.68.

Insiders Place Their Bets

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by insiders.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen and AstraZeneca reported that the Imdelltra-Imfinzi combination improved survival outcomes in a late-stage study of first-line extensive-stage small-cell lung cancer. The results could expand Imdelltra’s addressable market and strengthen the long-term growth outlook for Amgen’s oncology portfolio. AMGN, AZN Drug Combo Shows Survival Benefit in Lung Cancer Study
• Positive Sentiment: TD Cowen and Piper Sandler maintained Buy ratings, while a Seeking Alpha analysis upgraded Amgen, arguing that the recent selloff created an attractive entry point. Supportive ratings may help limit downside if the company’s pipeline continues to deliver. TD Cowen Keeps Their Buy Rating on Amgen
• Neutral Sentiment: Amgen announced a Phase 4 trial evaluating Repatha’s impact on coronary plaque, potentially providing additional evidence to support the cardiovascular drug’s use. However, the study is longer-term and is unlikely to materially affect near-term earnings. Amgen’s New Repatha Plaque Trial
• Neutral Sentiment: Analyst views remain mixed: Cantor Fitzgerald and Wells Fargo retained Neutral and Hold ratings, respectively, while Amgen’s healthcare-conference presentations could provide additional details on its pipeline and outlook. Cantor Fitzgerald Reaffirms Neutral Rating for Amgen
• Negative Sentiment: The main pressure came from Novartis’ disappointing trial results, which raised concerns about the broader cholesterol-drug class and weighed on expectations for Amgen’s related pipeline opportunities. Unusually heavy put-option activity also signaled elevated near-term bearish positioning. Amgen Falls as Novartis Trial Failure Clouds Cholesterol Drug Class
• Negative Sentiment: Investors remain concerned that falling Prolia and XGEVA sales from biosimilar competition, combined with continued investment in MariTide, will require margin expansion to justify Amgen’s valuation. Amgen’s Forward Multiple Looks Cheap Until You Price the Margins It Assumes

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen's medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.

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