SEB Asset Management AB Purchases New Position in Amgen Inc. $AMGN

Key Points

• SEB Asset Management AB opened a new position in Amgen during the first quarter, buying 180,676 shares valued at about $63.6 million.
• Amgen’s latest quarter beat expectations, with EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment is mixed: the stock currently carries a Hold consensus rating, even as some firms nudged price targets higher and Amgen’s pipeline saw both positive obesity data and setbacks in oncology and eczema trials.

SEB Asset Management AB acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 180,676 shares of the medical research company's stock, valued at approximately $63,571,000.

Other hedge funds have also bought and sold shares of the company. High Note Wealth LLC lifted its holdings 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. increased its position in shares of Amgen by 0.7% during the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after buying 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 worth $403,000 after buying 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 worth $456,000 after buying an additional 29 shares in the last quarter. Finally, Breakwater Capital Group boosted its position in shares of Amgen by 1.4% in the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock valued at $717,000 after acquiring an additional 29 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amgen 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 value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Weiss Ratings lowered Amgen from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. Guggenheim boosted their target price on Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $350.00 target price on shares of Amgen in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average target price of $356.62.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

Amgen Stock Down 1.4%

Shares of NASDAQ:AMGN opened at $366.29 on Friday. The firm has a market capitalization of $197.69 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.71 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The firm has a fifty day moving average of $347.69 and a 200 day moving average of $350.38.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter last year, the business posted $4.90 earnings per share. The company'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. As a group, research analysts anticipate that Amgen Inc. will post 22.31 EPS for the current fiscal 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.