Amgen Inc. (AMGN) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group Inc. in a research note issued to investors on Tuesday. They currently have a $206.00 price target on the medical research company’s stock, up from their previous price target of $204.00. Goldman Sachs Group Inc.’s price target points to a potential upside of 21.38% from the company’s current price.
A number of other equities research analysts also recently commented on AMGN. Leerink Swann reissued a “hold” rating on shares of Amgen in a research report on Saturday, September 17th. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 target price for the company in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $206.00 target price on shares of Amgen and gave the company a “buy” rating in a report on Saturday, September 17th. Robert W. Baird restated an “outperform” rating and issued a $157.00 target price on shares of Amgen in a report on Friday, August 26th. Finally, Citigroup Inc. upped their target price on shares of Amgen from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $184.51.
Amgen (NASDAQ:AMGN) opened at 169.71 on Tuesday. Amgen has a 1-year low of $135.64 and a 1-year high of $176.85. The company has a market capitalization of $127.00 billion, a P/E ratio of 17.37 and a beta of 0.87. The stock’s 50 day moving average is $172.00 and its 200-day moving average is $160.83.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the Zacks’ 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 company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the firm posted $2.57 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that Amgen will post $11.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.36%. Amgen’s dividend payout ratio is currently 40.90%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were 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 this link. Company insiders own 0.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Amgen by 3.6% in the second quarter. Macquarie Group Ltd. now owns 105,159 shares of the medical research company’s stock valued at $16,000,000 after buying an additional 3,625 shares in the last quarter. Carnick & Kubik Group LLC bought a new stake in Amgen during the second quarter valued at about $2,307,000. Williams Jones & Associates LLC boosted its stake in Amgen by 399.6% in the second quarter. Williams Jones & Associates LLC now owns 71,431 shares of the medical research company’s stock valued at $10,868,000 after buying an additional 57,132 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Amgen during the second quarter valued at about $4,615,000. Finally, Kentucky Retirement Systems bought a new stake in Amgen during the second quarter valued at about $9,720,000. 79.15% of the stock is currently 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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