Amgen (NASDAQ:AMGN) had its target price hoisted by Argus from $240.00 to $265.00 in a research report sent to investors on Monday morning, The Fly reports. They currently have a buy rating on the medical research company’s stock.
A number of other equities research analysts have also commented on the company. BidaskClub lowered Amgen from a strong-buy rating to a buy rating in a research report on Saturday. JPMorgan Chase & Co. restated a hold rating on shares of Amgen in a research report on Monday, September 30th. Sanford C. Bernstein assumed coverage on Amgen in a research note on Monday, October 14th. They issued an outperform rating on the stock. Cowen set a $231.00 target price on Amgen and gave the company a buy rating in a report on Sunday, September 29th. Finally, Evercore ISI reissued a hold rating on shares of Amgen in a research report on Sunday, August 11th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Amgen has an average rating of Buy and a consensus price target of $225.44.
Shares of AMGN stock traded up $1.18 during trading hours on Monday, hitting $234.00. 541,112 shares of the company’s stock traded hands, compared to its average volume of 2,101,617. The stock’s 50 day simple moving average is $221.39 and its 200 day simple moving average is $197.02. The stock has a market cap of $138.90 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. Amgen has a 12 month low of $166.30 and a 12 month high of $235.80. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a net margin of 34.48% and a return on equity of 80.26%. Amgen’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 earnings per share. As a group, equities research analysts expect that Amgen will post 14.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 15th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, November 14th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
In other news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $215.45, for a total value of $91,566.25. Following the completion of the sale, the director now directly owns 5,413 shares in the company, valued at approximately $1,166,230.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the sale, the director now owns 16,436 shares of the company’s stock, valued at $3,181,680.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,162 shares of company stock valued at $4,601,190. Insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the business. AGF Investments LLC grew its holdings in shares of Amgen by 3.1% during the second quarter. AGF Investments LLC now owns 9,656 shares of the medical research company’s stock valued at $1,779,000 after buying an additional 288 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Amgen by 10.0% during the 2nd quarter. Intact Investment Management Inc. now owns 48,400 shares of the medical research company’s stock valued at $8,917,000 after acquiring an additional 4,400 shares in the last quarter. J. L. Bainbridge & Co. Inc. purchased a new position in Amgen during the 2nd quarter worth $200,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Amgen by 13.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 27,930 shares of the medical research company’s stock worth $5,147,000 after acquiring an additional 3,270 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Amgen in the second quarter valued at about $159,000. Institutional investors and hedge funds own 76.66% of the company’s stock.
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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