USS Investment Management Ltd Acquires 3,681 Shares of Amgen Inc. $AMGN

Key Points

• USS Investment Management Ltd increased its Amgen stake by 4% in the first quarter, buying 3,681 additional shares and bringing its total holdings to 95,031 shares worth about $33.4 million.
• Amgen reported better-than-expected first-quarter results, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• Despite solid fundamentals, analyst sentiment remains cautious overall: the stock has a consensus rating of “Hold” with an average price target of $354.42, while recent news includes some regulatory and competitive pressure on key drugs.

USS Investment Management Ltd grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,031 shares of the medical research company's stock after buying an additional 3,681 shares during the quarter. USS Investment Management Ltd's holdings in Amgen were worth $33,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Robeco Institutional Asset Management B.V. boosted its position in shares of Amgen by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock valued at $157,584,000 after buying an additional 43,884 shares during the period. Curtis Advisory Group LLC purchased a new stake in shares of Amgen in the fourth quarter worth approximately $1,669,000. Adell Harriman & Carpenter Inc. raised its holdings in shares of Amgen by 7.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after buying an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Amgen during the 4th quarter worth approximately $22,441,000. Finally, Robinhood Asset Management LLC bought a new stake in shares of Amgen during the 4th quarter worth approximately $17,526,000. Institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.4%

Shares of NASDAQ:AMGN opened at $362.12 on Wednesday. The business's 50 day moving average is $341.06 and its 200 day moving average is $347.04. The stock has a market cap of $195.44 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the company posted $4.90 EPS. Amgen'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. Sell-side analysts predict that Amgen Inc. will post 22.39 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on AMGN shares. Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Amgen in a research report on Thursday, June 18th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Cantor Fitzgerald restated a "neutral" rating and issued a $350.00 price target on shares of Amgen in a report on Wednesday, April 8th. Finally, Jefferies Financial Group started coverage on shares of Amgen in a research note on Tuesday, March 10th. They issued a "hold" rating and a $350.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned 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, Amgen currently has a consensus rating of "Hold" and a consensus price target of $354.42.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen remains one of the most watched stocks on Zacks, and recent commentary notes the shares have had a strong multi-week and year-to-date run, suggesting continued investor interest and momentum. Article Title
• Neutral Sentiment: Viridian Therapeutics’ new FDA approval for Lumvoa is being viewed as a stronger competitor in thyroid eye disease, adding competitive pressure to Amgen’s Tepezza franchise rather than changing Amgen’s fundamentals directly. Article Title
• Negative Sentiment: The European Medicines Agency’s CHMP recommended revoking Tavneos’ marketing authorization in the EU, which raises the risk of lost international sales and creates a fresh regulatory overhang for Amgen. Article Title
• Negative Sentiment: The New England Journal of Medicine retracted the trial paper that supported Tavneos after FDA-related findings, increasing concerns about the reliability of the clinical data behind a drug that generated substantial revenue for Amgen. Article Title

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated 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 directly owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company's stock.

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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