Simplify Asset Management Inc. Lowers Stake in Amgen Inc. $AMGN

Simplify Asset Management Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 69.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,844 shares of the medical research company’s stock after selling 36,506 shares during the period. Simplify Asset Management Inc.’s holdings in Amgen were worth $5,575,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Leelyn Smith LLC increased its holdings in Amgen by 2.3% in the 1st quarter. Leelyn Smith LLC now owns 9,764 shares of the medical research company’s stock valued at $3,436,000 after purchasing an additional 224 shares in the last quarter. PFG Investments LLC lifted its stake in shares of Amgen by 26.6% during the first quarter. PFG Investments LLC now owns 9,685 shares of the medical research company’s stock worth $3,408,000 after purchasing an additional 2,032 shares in the last quarter. Baer Investment Advisory LLC purchased a new stake in shares of Amgen in the first quarter worth about $935,000. Canal Capital Management LLC boosted its position in shares of Amgen by 1.3% in the first quarter. Canal Capital Management LLC now owns 23,257 shares of the medical research company’s stock worth $8,183,000 after buying an additional 292 shares during the period. Finally, First Dallas Securities Inc. grew its stake in shares of Amgen by 2.5% in the first quarter. First Dallas Securities Inc. now owns 4,153 shares of the medical research company’s stock valued at $1,461,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $374.15 on Friday. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $391.29. The business has a 50 day moving average price of $342.43 and a two-hundred day moving average price of $347.93. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The firm has a market cap of $201.93 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the business earned $4.90 EPS. Amgen’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts expect that Amgen Inc. will post 22.39 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on 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 transaction, the senior vice president owned 7,009 shares of the company’s stock, 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 document filed with the SEC, which is available through this link. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Guggenheim decreased their price target on Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. 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. Finally, BMO Capital Markets reissued an “outperform” rating and set a $400.00 target price on shares of Amgen in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $355.50.

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.