Baird Financial Group Inc. Increases Stock Holdings in Amgen Inc. $AMGN

Key Points

• Baird Financial Group increased its Amgen stake by 1.6% in the second quarter, purchasing 5,496 additional shares and bringing its holdings to 339,825 shares valued at approximately $123.1 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly earnings of $6.29 per share, beating estimates of $5.62, while revenue rose 9.5% year over year to $10.05 billion. The company also declared a quarterly dividend of $2.52 per share, representing a 2.6% annualized yield.
• Analyst sentiment remains mixed: BMO downgraded Amgen to Market Perform, while positive Phase 3 results for IMDELLTRA supported the company’s oncology outlook. The stock has an overall consensus rating of Hold, with an average price target of $381.68.

Baird Financial Group Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 339,825 shares of the medical research company's stock after purchasing an additional 5,496 shares during the quarter. Baird Financial Group Inc. owned 0.06% of Amgen worth $123,057,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AMGN. Rational Advisors Inc. increased its stake in Amgen by 13.7% in the second quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock worth $72,000 after purchasing an additional 24 shares during the period. Beacon Financial Advisory LLC grew its holdings in shares of Amgen by 2.0% in the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock worth $461,000 after purchasing an additional 25 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Amgen by 0.8% in the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock worth $1,234,000 after purchasing an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. increased its stake in Amgen by 1.4% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company's stock worth $705,000 after buying an additional 27 shares during the period. Finally, High Note Wealth LLC increased its stake in Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

NASDAQ AMGN opened at $393.17 on Wednesday. The firm's fifty day simple moving average is $399.54 and its two-hundred day simple moving average is $367.68. The firm has a market capitalization of $212.56 billion, a P/E ratio of 24.44, a P/E/G ratio of 3.15 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.6%. Amgen's payout ratio is 62.65%.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that IMDELLTRA, combined with AstraZeneca’s Imfinzi, significantly improved overall survival in a Phase 3 trial for first-line extensive-stage small-cell lung cancer. The study also met progression-free survival and response-rate endpoints, strengthening the commercial outlook for the oncology franchise. Amgen IMDELLTRA Phase 3 results
• Positive Sentiment: William Blair maintained a Buy rating, citing the Phase 3 success of IMDELLTRA, while UBS said olpasiran could still demonstrate meaningful cardiovascular risk reduction. These views provide some support against the broader selloff. William Blair maintains Buy rating
• Neutral Sentiment: Broader market pressure from surging oil prices, Middle East tensions and U.S.-Canada trade friction is adding to volatility, although the primary catalyst for Amgen appears company- and sector-specific. Market declines amid oil and geopolitical concerns
• Negative Sentiment: Novartis’ Phase 3 pelacarsen trial failed to reduce cardiovascular events, even though it lowered Lp(a). Investors are treating the result as evidence that lowering the biomarker may not translate into fewer heart attacks or strokes, raising the bar for Amgen’s olpasiran program and clouding the outlook for the entire Lp(a) drug class. Novartis cholesterol drug setback
• Negative Sentiment: BMO downgraded Amgen to Market Perform from Outperform, citing limited near-term upside and a more balanced risk-reward profile. The downgrade amplified selling pressure following the Novartis read-through concerns. BMO downgrades Amgen

Analyst Ratings Changes

A number of brokerages have commented on AMGN. BMO Capital Markets downgraded shares of Amgen from an "outperform" rating to a "market perform" rating and set a $450.00 target price on the stock. in a research note on Tuesday. Guggenheim lifted their price objective on Amgen from $343.00 to $388.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $400.00 price objective on shares of Amgen in a research note on Tuesday. Weiss Ratings raised shares of Amgen from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 6th. Finally, Truist Financial boosted their price target on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $381.68.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by insiders.

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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