Sumitomo Mitsui DS Asset Management Company Ltd Acquires 17,721 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,863 shares of the medical research company’s stock after buying an additional 17,721 shares during the period. Amgen comprises approximately 0.9% of Sumitomo Mitsui DS Asset Management Company Ltd’s portfolio, making the stock its 24th largest position. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.06% of Amgen worth $92,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Beck Mack & Oliver LLC lifted its holdings in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC raised its position in Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC lifted its stake in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Trillium Asset Management LLC boosted its position in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares during the period. Finally, Affinity Capital Advisors LLC boosted its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMGN shares. Royal Bank Of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $328.00 price objective on shares of Amgen in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $307.82.

View Our Latest Stock Report on Amgen

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of AMGN opened at $279.21 on Tuesday. The company has a 50 day moving average of $281.13 and a two-hundred day moving average of $286.25. The company has a quick ratio of 0.88, a current ratio of 1.17 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. The company has a market cap of $150.13 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter last year, the firm earned $3.96 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

About Amgen

(Free Report)

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.

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