Skandinaviska Enskilda Banken AB publ Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Amgen by 3.6%, acquiring an additional 10,738 shares, bringing its total ownership to approximately 312,554 shares valued at $97.35 million.
• Several analysts have given mixed reviews on Amgen, with Bank of America lowering its target price from $252 to $261, while UBS Group raised it from $315 to $326, maintaining a "neutral" rating.
• Institutional investors now hold 76.50% of Amgen’s stock, indicating strong institutional interest and confidence in the company amid its recent performance updates.

Skandinaviska Enskilda Banken AB publ grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 312,554 shares of the medical research company's stock after purchasing an additional 10,738 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Amgen worth $97,354,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Pinney & Scofield Inc. acquired a new position in shares of Amgen in the fourth quarter valued at about $26,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter valued at $36,000. Finally, Legacy Investment Solutions LLC raised its stake in shares of Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after buying an additional 45 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AMGN shares. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Bank of America raised their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday. Citigroup boosted their target price on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research note on Tuesday. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Finally, William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $307.27.

Amgen Price Performance

AMGN traded down $1.97 on Friday, reaching $306.58. 1,451,093 shares of the company's stock were exchanged, compared to its average volume of 1,935,961. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $340.89. The stock has a market cap of $164.85 billion, a PE ratio of 27.97, a P/E/G ratio of 2.65 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock's fifty day moving average price is $289.39 and its 200-day moving average price is $290.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.96 earnings per share. Sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.