Amgen Inc. (AMGN) Receives Hold Rating from JPMorgan Chase & Co.
Several other research firms also recently commented on AMGN. BMO Capital Markets reiterated a buy rating and issued a $186.00 price objective on shares of Amgen in a report on Tuesday, July 12th. Vetr upgraded shares of Amgen from a sell rating to a hold rating and set a $165.78 price objective on the stock in a report on Wednesday, July 27th. Leerink Swann reiterated a hold rating on shares of Amgen in a report on Saturday, September 17th. Zacks Investment Research cut shares of Amgen from a buy rating to a hold rating in a research report on Monday, August 1st. Finally, Goldman Sachs Group Inc. reissued a buy rating and issued a $206.00 target price (up previously from $204.00) on shares of Amgen in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $184.51.
Shares of Amgen (NASDAQ:AMGN) traded down 0.74% during mid-day trading on Wednesday, reaching $168.46. 695,981 shares of the company’s stock were exchanged. The stock has a market cap of $126.07 billion, a price-to-earnings ratio of 17.24 and a beta of 0.87. Amgen has a 52-week low of $135.64 and a 52-week high of $176.85. The stock’s 50-day moving average is $172.00 and its 200-day moving average is $160.83.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the previous year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Amgen will post $11.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, August 15th. Amgen’s dividend payout ratio is presently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
A number of large investors have recently made changes to their positions in AMGN. Oak Associates Ltd. OH raised its stake in shares of Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock valued at $31,592,000 after buying an additional 581 shares during the period. National Pension Service raised its stake in shares of Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock valued at $56,722,000 after buying an additional 15,376 shares during the period. Geode Capital Management LLC raised its stake in shares of Amgen by 2.1% in the first quarter. Geode Capital Management LLC now owns 6,444,273 shares of the medical research company’s stock valued at $964,334,000 after buying an additional 132,632 shares during the period. Prudential PLC raised its stake in shares of Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock valued at $159,359,000 after buying an additional 311,157 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Amgen by 1.0% in the first quarter. Legal & General Group Plc now owns 3,263,086 shares of the medical research company’s stock valued at $489,239,000 after buying an additional 32,086 shares during the period. 79.15% of the stock is owned by institutional investors.
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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