Munich Reinsurance Co Stock Corp in Munich Sells 2,916 Shares of Amgen Inc. $AMGN

Key Points

• Munich Reinsurance sharply cut its Amgen stake in the first quarter, selling 2,916 shares and leaving it with 563 shares valued at about $198,000.
• Amgen beat earnings expectations for the latest quarter, reporting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• Despite the strong quarter, analysts remain cautious: the stock has a consensus rating of "Hold" with an average price target of $355.73, while Amgen shares were down about 1.2% in trading.

Munich Reinsurance Co Stock Corp in Munich reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 83.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 563 shares of the medical research company's stock after selling 2,916 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Amgen were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its position in shares of Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after acquiring an additional 961,975 shares during the last quarter. State Street Corp increased its position in Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the last quarter. Capital World Investors raised its stake in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC raised its stake in Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Finally, Norges Bank bought a new position in Amgen during the fourth quarter valued at $2,164,162,000. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company's stock.

Amgen Trading Down 1.2%

AMGN stock opened at $363.62 on Friday. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The stock has a market capitalization of $196.25 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 3.63 and a beta of 0.41. 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 firm's fifty day simple moving average is $344.30 and its two-hundred day simple moving average is $349.22.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (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 firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the business earned $4.90 EPS. The business's revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts anticipate that Amgen Inc. will post 22.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated a "neutral" rating and issued a $350.00 target price on shares of Amgen in a report on Monday. Guggenheim lowered their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Erste Group Bank reiterated a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Morgan Stanley reduced their price objective on Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Two equities research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $355.73.

Amgen 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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