BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a sell rating to a hold rating in a research report report published on Thursday.
AMGN has been the subject of several other research reports. Mizuho set a $192.00 price objective on Amgen and gave the company a buy rating in a research report on Friday, December 22nd. Zacks Investment Research downgraded Amgen from a buy rating to a hold rating in a research report on Monday, October 30th. Royal Bank of Canada lowered their price objective on Amgen from $192.00 to $188.00 and set a sector perform rating for the company in a research report on Thursday, October 26th. Credit Suisse Group reiterated a neutral rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Finally, Oppenheimer reiterated a buy rating and issued a $205.00 price objective on shares of Amgen in a research report on Thursday, November 30th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Amgen currently has an average rating of Hold and a consensus price target of $190.15.
Amgen (AMGN) traded up $1.69 during trading hours on Thursday, reaching $189.28. The company had a trading volume of 3,579,840 shares, compared to its average volume of 2,680,000. The company has a market cap of $137,400.00, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.77 and a beta of 1.36. Amgen has a one year low of $150.38 and a one year high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. Amgen’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 EPS. research analysts anticipate that Amgen will post 12.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is currently 41.55%.
Amgen declared that its Board of Directors has approved a share repurchase plan 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. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares of the company’s stock, valued at approximately $9,888,326.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,575 shares of company stock valued at $1,508,836. 0.19% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AMGN. Baker Ellis Asset Management LLC purchased a new stake in Amgen in the third quarter worth $108,000. Phocas Financial Corp. purchased a new stake in Amgen in the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. grew its stake in Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the period. Omnia Family Wealth LLC grew its stake in Amgen by 25.3% in the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the period. Finally, Grove Bank & Trust grew its stake in Amgen by 87.4% in the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during the period. Institutional investors own 78.48% of the company’s stock.
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Amgen Company Profile
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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