BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a strong sell rating to a sell rating in a research report released on Saturday.
Other research analysts have also issued research reports about the stock. Credit Suisse Group reissued a neutral rating and set a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank Of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They issued a sector perform rating and a $192.00 price target on the stock. Mizuho reaffirmed a buy rating and issued a $183.00 price target (down previously from $195.00) on shares of Amgen in a research note on Monday, August 21st. Morgan Stanley cut their price target on shares of Amgen from $196.00 to $193.00 and set an overweight rating on the stock in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Amgen from a hold rating to a buy rating and set a $199.00 price target on the stock in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Amgen has a consensus rating of Hold and an average price target of $190.22.
Amgen (AMGN) opened at $178.67 on Friday. Amgen has a one year low of $138.83 and a one year high of $191.10. The firm has a market cap of $130,080.00, a P/E ratio of 14.09, a P/E/G ratio of 2.57 and a beta of 1.36. 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 (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.01% and a return on equity of 25.35%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm earned $3.02 EPS. Amgen’s quarterly revenue was down .7% compared to the same quarter last year. analysts forecast that Amgen will post 12.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, November 16th. Amgen’s dividend payout ratio is presently 41.55%.
Amgen announced that its Board of Directors has approved a share buyback program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The disclosure for this sale can be found here. In the last three months, insiders sold 7,050 shares of company stock worth $1,239,673. 0.19% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Baker Ellis Asset Management LLC acquired a new position in Amgen during the third quarter worth $108,000. TrimTabs Asset Management LLC increased its holdings in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the last quarter. Phocas Financial Corp. acquired a new position in Amgen during the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. increased its holdings in Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares during the last quarter. Finally, American Beacon Advisors Inc. acquired a new position in Amgen during the first quarter worth $106,000. Institutional investors and hedge funds own 78.38% of the company’s stock.
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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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