Amgen (NASDAQ:AMGN) had its price objective boosted by SVB Leerink from $253.00 to $261.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a market perform rating on the medical research company’s stock. SVB Leerink also issued estimates for Amgen’s Q2 2020 earnings at $3.89 EPS, Q4 2020 earnings at $3.79 EPS, FY2020 earnings at $15.89 EPS, FY2021 earnings at $16.28 EPS and FY2023 earnings at $18.55 EPS.
A number of other brokerages have also recently commented on AMGN. Wells Fargo & Co upped their target price on shares of Amgen from $220.00 to $237.00 and gave the company an equal weight rating in a report on Friday, May 1st. Morgan Stanley upped their price objective on Amgen from $280.00 to $285.00 and gave the company an overweight rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their target price on Amgen from $225.00 to $232.00 and gave the company a neutral rating in a research note on Tuesday, July 28th. Piper Sandler upped their price target on Amgen from $255.00 to $270.00 and gave the stock an overweight rating in a research note on Tuesday, July 28th. Finally, Mizuho reiterated a hold rating and issued a $215.00 price objective on shares of Amgen in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $253.15.
NASDAQ:AMGN opened at $244.67 on Wednesday. The company has a market capitalization of $143.93 billion, a PE ratio of 19.99, a P/E/G ratio of 2.08 and a beta of 0.94. Amgen has a 52-week low of $177.05 and a 52-week high of $264.97. The stock’s 50 day moving average price is $244.08 and its 200 day moving average price is $227.31. The company has a quick ratio of 1.28, a current ratio of 2.18 and a debt-to-equity ratio of 3.20.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the firm posted $3.97 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen will post 15.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Friday, August 14th. Amgen’s dividend payout ratio is currently 43.18%.
In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $229.27, for a total value of $229,270.00. Following the sale, the director now owns 16,482 shares of the company’s stock, valued at $3,778,828.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total value of $100,856.75. Following the completion of the sale, the director now directly owns 5,834 shares in the company, valued at approximately $1,384,466.54. The disclosure for this sale can be found here. Insiders sold a total of 3,425 shares of company stock valued at $818,457 over the last ninety days. 0.36% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Price Wealth LLC raised its position in Amgen by 42.9% during the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock worth $33,000 after acquiring an additional 42 shares during the last quarter. Lake Point Wealth Management grew its position in shares of Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 159 shares during the last quarter. Column Capital Advisors LLC increased its stake in shares of Amgen by 98.0% during the 1st quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock worth $39,000 after purchasing an additional 96 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the 1st quarter worth approximately $47,000. Finally, Campbell Wealth Management purchased a new stake in Amgen in the 2nd quarter valued at approximately $51,000. 75.73% of the stock is currently owned by hedge funds and other 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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