Banque Cantonale Vaudoise Lowers Position in Amgen Inc. $AMGN

Key Points

• Banque Cantonale Vaudoise cut its Amgen stake by 14.2% in the first quarter, selling 3,055 shares and ending with 18,444 shares worth about $6.49 million.
• Amgen’s latest earnings beat expectations, reporting $5.15 EPS versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment remains cautious: the stock carries a Hold consensus rating with an average price target of $354.42, while Amgen shares recently traded around $351.64.

Banque Cantonale Vaudoise decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,444 shares of the medical research company's stock after selling 3,055 shares during the quarter. Banque Cantonale Vaudoise's holdings in Amgen were worth $6,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Norges Bank purchased a new stake in Amgen in the fourth quarter valued at approximately $2,164,162,000. Capital World Investors grew its stake in Amgen by 22.9% in 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 buying an additional 4,302,237 shares in the last quarter. State Street Corp increased its holdings in shares of Amgen by 4.4% in 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 buying an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 7.8% in 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 buying an additional 1,035,779 shares during the last quarter. Finally, Amundi increased its holdings in shares of Amgen by 41.1% in the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company's stock worth $1,111,854,000 after buying an additional 988,856 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated 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 transaction, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMGN. Daiwa Securities Group dropped their price objective on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Cantor Fitzgerald reissued a "neutral" rating and issued a $350.00 target price on shares of Amgen in a research note on Wednesday, April 8th. Truist Financial raised their price target on Amgen from $325.00 to $327.00 and gave the company a "hold" rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their price target on Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 19th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Amgen in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $354.42.

Amgen Stock Performance

Amgen stock opened at $351.64 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $189.78 billion, a PE ratio of 24.47, a P/E/G ratio of 3.48 and a beta of 0.42. The firm has a fifty day simple moving average of $340.45 and a two-hundred day simple moving average of $345.95. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 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 company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm earned $4.90 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts expect that Amgen Inc. will post 22.38 EPS for the current year.

Amgen Company 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.