Amgen (NASDAQ:AMGN) had its price objective increased by Oppenheimer from $210.00 to $230.00 in a research report sent to investors on Tuesday morning, The Fly reports. Oppenheimer currently has an outperform rating on the medical research company’s stock. Oppenheimer also issued estimates for Amgen’s Q3 2019 earnings at $3.48 EPS, Q4 2019 earnings at $3.29 EPS, FY2019 earnings at $14.31 EPS, FY2020 earnings at $15.96 EPS, FY2021 earnings at $16.78 EPS, FY2022 earnings at $17.29 EPS and FY2023 earnings at $17.81 EPS.
Several other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of Amgen from a sell rating to a hold rating in a research note on Thursday, August 1st. Mizuho reaffirmed a buy rating and set a $208.00 price target on shares of Amgen in a research note on Monday, July 1st. Credit Suisse Group began coverage on shares of Amgen in a research note on Monday, May 20th. They set an outperform rating and a $208.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Amgen in a research note on Friday, August 9th. Finally, Evercore ISI reaffirmed a hold rating on shares of Amgen in a research note on Sunday, August 11th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $211.44.
Shares of AMGN stock opened at $199.31 on Tuesday. The company’s fifty day simple moving average is $183.54 and its 200-day simple moving average is $182.71. Amgen has a 52 week low of $166.30 and a 52 week high of $211.90. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The company has a market cap of $123.61 billion, a PE ratio of 14.08, a P/E/G ratio of 2.42 and a beta of 1.19.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the previous year, the firm posted $3.83 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that Amgen will post 14.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 14th. Amgen’s payout ratio is currently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders sold a total of 4,425 shares of company stock valued at $804,312 in the last three months. Insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Mutual Advisors LLC boosted its holdings in shares of Amgen by 27.4% in the 2nd quarter. Mutual Advisors LLC now owns 6,035 shares of the medical research company’s stock valued at $1,112,000 after buying an additional 1,299 shares during the period. Noked Capital LTD acquired a new position in shares of Amgen in the 2nd quarter valued at about $276,000. Smith Moore & CO. boosted its holdings in shares of Amgen by 37.3% in the 2nd quarter. Smith Moore & CO. now owns 1,889 shares of the medical research company’s stock valued at $348,000 after buying an additional 513 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Amgen by 6.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 81,740 shares of the medical research company’s stock valued at $15,063,000 after buying an additional 4,815 shares during the period. Finally, BRYN MAWR TRUST Co boosted its holdings in shares of Amgen by 0.8% in the 2nd quarter. BRYN MAWR TRUST Co now owns 93,003 shares of the medical research company’s stock valued at $17,139,000 after buying an additional 727 shares during the period. 78.96% of the stock is owned by institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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