Amgen Inc. (NASDAQ:AMGN) had its target price decreased by research analysts at Royal Bank Of Canada from $192.00 to $188.00 in a report released on Thursday, October 26th, MarketBeat.com reports. The brokerage currently has a “sector perform” rating on the medical research company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 9.08% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. BMO Capital Markets cut Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price target on the stock. in a report on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group reiterated a “neutral” rating and issued a $186.00 price target (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Thursday, September 7th. Morgan Stanley reiterated an “overweight” rating and issued a $196.00 price target (up previously from $189.00) on shares of Amgen in a report on Friday, October 6th. Finally, UBS AG set a $180.00 target price on Amgen and gave the stock a “hold” rating in a report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $190.03.
Amgen (NASDAQ:AMGN) opened at $172.35 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen has a 12 month low of $138.83 and a 12 month high of $191.10. The stock has a market capitalization of $125,110.70, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.02 earnings per share. equities analysts anticipate that Amgen will post 12.66 EPS for the current fiscal year.
Amgen declared that its board has approved a share repurchase program on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Camelot Portfolios LLC bought a new stake in shares of Amgen in the 1st quarter valued at about $1,429,000. PGGM Investments grew its position in shares of Amgen by 2.3% in the 2nd quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock valued at $115,555,000 after buying an additional 15,059 shares during the last quarter. Shelton Capital Management grew its position in shares of Amgen by 82.7% in the 1st quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after buying an additional 49,354 shares during the last quarter. Greylin Investment Mangement Inc. grew its position in shares of Amgen by 466.9% in the 2nd quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock valued at $2,416,000 after buying an additional 11,555 shares during the last quarter. Finally, Kelman Lazarov Inc. grew its position in shares of Amgen by 8.2% in the 2nd quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock valued at $272,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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