Amgen (NASDAQ:AMGN) was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued on Tuesday, February 27th. The brokerage currently has a $181.60 price objective on the medical research company’s stock. Vetr‘s price objective points to a potential downside of 4.71% from the company’s previous close.
A number of other research analysts also recently weighed in on the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and raised their price target for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. Citigroup downgraded shares of Amgen to a “neutral” rating in a report on Monday, December 18th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $191.00 target price on shares of Amgen in a research note on Sunday, February 4th. Goldman Sachs Group lowered shares of Amgen from a “conviction-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Mizuho set a $192.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $191.72.
Amgen (AMGN) traded up $0.82 during mid-day trading on Tuesday, reaching $190.57. 3,613,278 shares of the company’s stock were exchanged, compared to its average volume of 6,790,000. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. The stock has a market cap of $137,320.00, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.89 EPS. analysts expect that Amgen will post 13.24 EPS for the current fiscal year.
Amgen declared that its board has approved a share repurchase program on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. ADAMCAPITAL Gestao de Recursos Ltda. bought a new position in Amgen during the 4th quarter valued at about $58,641,000. Chemical Bank lifted its holdings in Amgen by 3.4% during the 4th quarter. Chemical Bank now owns 12,391 shares of the medical research company’s stock valued at $2,155,000 after purchasing an additional 410 shares during the last quarter. Green Square Capital LLC lifted its holdings in Amgen by 18.0% during the 4th quarter. Green Square Capital LLC now owns 47,457 shares of the medical research company’s stock valued at $8,253,000 after purchasing an additional 7,231 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Amgen by 1.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,148 shares of the medical research company’s stock valued at $13,590,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Fairfield Bush & CO. lifted its holdings in Amgen by 3.7% during the 4th quarter. Fairfield Bush & CO. now owns 34,361 shares of the medical research company’s stock valued at $5,975,000 after purchasing an additional 1,215 shares during the last quarter. 79.61% of the stock is owned by institutional investors.
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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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