Bank of Nova Scotia Has $110.56 Million Stock Position in Amgen Inc. $AMGN

Bank of Nova Scotia reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 15.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,227 shares of the medical research company’s stock after selling 58,745 shares during the period. Bank of Nova Scotia’s holdings in Amgen were worth $110,562,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMGN. Vanguard Group Inc. raised its stake in Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after purchasing an additional 961,975 shares during the last quarter. State Street Corp boosted its holdings in Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Capital World Investors grew its position in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. Geode Capital Management LLC grew its position in Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Amgen during the 4th quarter worth about $2,164,162,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN opened at $371.50 on Friday. The company has a 50-day moving average of $350.28 and a 200-day moving average of $351.63. The company has a market capitalization of $200.50 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.70 and a beta of 0.41. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $391.29. 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 (NASDAQ:AMGN) last posted 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. The business had revenue of $8.62 billion for 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 firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMGN shares. Weiss Ratings lowered shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $389.00 target price on Amgen in a research report on Friday, June 5th. Truist Financial boosted their price target on Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a research report on Monday, July 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $400.00 price objective on shares of Amgen in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $356.62.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

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.