Amgen Inc. (AMGN) Given Buy Rating at Jefferies Group
“Impella secured approval in Japan; the late summer approval was largely on target. The label is somewhat different than in the US: Impella is indicated for drug-resistant acute heart failure, but not prophylactic or elective use.”,” the firm’s analyst commented.
Several other analysts have also issued reports on the company. Citigroup Inc. cut their price target on Amgen from $175.00 to $172.00 and set a neutral rating for the company in a report on Wednesday. JPMorgan Chase & Co. reissued a hold rating on shares of Amgen in a report on Wednesday. Goldman Sachs Group Inc. reissued a buy rating and set a $206.00 price target (up previously from $204.00) on shares of Amgen in a report on Tuesday. BMO Capital Markets restated an outperform rating and issued a $190.00 price objective on shares of Amgen in a research report on Thursday, September 22nd. Finally, Cowen and Company restated a buy rating on shares of Amgen in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $184.51.
Shares of Amgen (NASDAQ:AMGN) traded down 0.658% during trading on Wednesday, hitting $168.593. The stock had a trading volume of 471,209 shares. Amgen has a 12 month low of $135.64 and a 12 month high of $176.85. The company has a market cap of $126.17 billion, a PE ratio of 17.253 and a beta of 0.87. The stock has a 50 day moving average of $172.00 and a 200 day moving average of $160.83.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. Amgen’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts forecast that Amgen will post $11.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Monday, August 15th. Amgen’s dividend payout ratio is currently 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Amgen during the second quarter worth approximately $383,036,000. Wellington Management Group LLP boosted its stake in Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock valued at $2,030,789,000 after buying an additional 1,864,688 shares during the last quarter. Nordea Investment Management AB boosted its stake in Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock valued at $870,171,000 after buying an additional 1,547,099 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Amgen during the second quarter valued at about $194,466,000. Finally, FMR LLC boosted its stake in Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock valued at $4,927,672,000 after buying an additional 1,259,875 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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