Amgen Inc.
In the published model solve dated 2026-Q2, anchored at $430.31, Amgen Inc. (AMGN) is priced for +5.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• No single medicine carries this company: the largest branded product, Prolia, is about 12% of revenue, Repatha about 8%, and roughly a fifth of the total comes from an aggregate of smaller products, which is both the defence against any one patent cliff and the reason no one product can offset the others. • The specific risk is already dated: the RANKL patents behind XGEVA ⟦"expired in February 2025 in the United States and in November 2025 in select countries in Europe"⟧, and the company says
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3,057 institutional managers reported holding AMGN in 13F filings for the quarter ended 2026-03-31. Together they hold about 77% of the company; the top 10 hold 42%. 177 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 12.2M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (4.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
AMGN has cut its share count 5.8% over the past five years, spending $8.88B on repurchases. It pays a dividend, and has for 15 years running, raised 14 years straight; the current rate is $9.66 a share annually. Cash returned over the past three years: $13.59B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at AMGN over the trailing three years. Absence is a fact about the company, not a signal. 22 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
AMGN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +5.5% | +9.9% |
| 2023-11-01 | -0.9% | +15.3% |
| 2024-02-15 | -8.1% | -9.1% |
| 2024-05-04 | +12.2% | -0.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
AMGN's latest 8-K filings: 2026-08-04 (items 2.02, 9.01); 2026-07-31 (items 1.05); 2026-05-20 (items 5.07); 2026-05-19 (items 5.02); 2026-04-30 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.