Orbimed Advisors LLC Takes Position in Amgen Inc. $AMGN

Orbimed Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 39,900 shares of the medical research company’s stock, valued at approximately $14,039,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. High Note Wealth LLC grew its position in shares of Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. raised its position in Amgen by 0.7% in 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 last quarter. Verus Capital Partners LLC raised its position in Amgen by 2.3% in the 4th 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 during the last quarter. Destination Wealth Management boosted its stake in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after purchasing an additional 29 shares during the period. Finally, Breakwater Capital Group boosted its stake in Amgen by 1.4% during the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock worth $717,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Mizuho lifted their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research note on Friday, June 5th. Guggenheim raised their price target on Amgen from $340.00 to $343.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Canaccord Genuity Group began coverage on Amgen in a research report on Monday, April 20th. They issued a “hold” rating and a $366.00 price target on the stock. Finally, Daiwa Securities Group reduced their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $356.62.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were 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 in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of AMGN opened at $376.04 on Monday. The stock has a market capitalization of $202.95 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.80 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 1 year low of $269.77 and a 1 year high of $391.29. The company’s fifty day moving average is $351.28 and its two-hundred day moving average is $352.02.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts predict that Amgen Inc. will post 22.31 earnings per share for the current year.

About Amgen

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.