BI Asset Management Fondsmaeglerselskab A S Has $24.19 Million Stock Position in Amgen Inc. $AMGN

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Amgen stake by 10.1% in the first quarter, selling 7,732 shares and ending with 68,759 shares valued at about $24.19 million.
• Amgen reported better-than-expected Q1 earnings, with EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $354.42, though some firms recently upgraded or raised targets.

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,759 shares of the medical research company's stock after selling 7,732 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Amgen were worth $24,193,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMGN. High Note Wealth LLC grew its position in Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after purchasing an additional 28 shares in the last quarter. TAGStone Capital Inc. raised its stake in Amgen by 0.7% during the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC lifted its holdings in shares of Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock valued at $403,000 after purchasing an additional 28 shares in the last quarter. Destination Wealth Management lifted its holdings in shares of Amgen by 2.1% in the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock valued at $456,000 after purchasing an additional 29 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in shares of Amgen by 1.1% in the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $337.60 on Friday. Amgen Inc. has a fifty-two week low of $267.83 and a fifty-two week high of $391.29. The stock's 50-day moving average is $340.71 and its two-hundred day moving average is $345.76. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market cap of $182.21 billion, a P/E ratio of 23.49, a PEG ratio of 3.39 and a beta of 0.42.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AMGN shares. Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Guggenheim decreased their price objective on Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Mizuho lifted their target price on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, June 16th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $350.00 target price on shares of Amgen in a report on Wednesday, April 8th. Finally, Argus decreased their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $354.42.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by company insiders.

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.

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