Sumitomo Mitsui DS Asset Management Company Ltd Has $92.49 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 296,863 shares of the medical research company's stock after purchasing an additional 17,721 shares during the period. Amgen accounts for about 0.9% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 24th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.06% of Amgen worth $92,488,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AMGN. Capital World Investors increased its stake in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank bought a new position in Amgen during the fourth quarter worth about $1,541,991,000. GAMMA Investing LLC grew its holdings in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Capital International Investors increased its position in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

NASDAQ AMGN traded up $6.33 during midday trading on Wednesday, hitting $296.85. The company had a trading volume of 2,286,935 shares, compared to its average volume of 2,840,754. The firm has a 50-day moving average price of $281.37 and a 200-day moving average price of $286.28. The company has a market capitalization of $159.62 billion, a PE ratio of 27.08, a P/E/G ratio of 2.63 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter last year, the business earned $3.96 earnings per share. Amgen's revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $307.82.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.