Amgen Inc. (AMGN) Price Target Cut to $172.00
Amgen Inc. (NASDAQ:AMGN) had its price target decreased by analysts at Citigroup Inc. from $175.00 to $172.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the medical research company’s stock. Citigroup Inc.’s target price suggests a potential upside of 3.96% from the stock’s previous close.
Several other brokerages have also recently issued reports on AMGN. Vetr cut Amgen from a “buy” rating to a “hold” rating and set a $159.50 price objective for the company. in a research note on Tuesday, June 7th. Bank of America Corp. restated a “hold” rating and issued a $182.00 price objective on shares of Amgen in a research note on Wednesday, June 8th. BMO Capital Markets restated an “outperform” rating and issued a $186.00 price objective on shares of Amgen in a research note on Thursday, June 9th. Leerink Swann restated a “market perform” rating and issued a $186.00 price objective on shares of Amgen in a research note on Thursday, June 9th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $202.00 price objective on shares of Amgen in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $185.06.
Amgen (NASDAQ:AMGN) opened at 165.45 on Wednesday. Amgen has a 12-month low of $135.64 and a 12-month high of $176.85. The company has a 50-day moving average price of $171.84 and a 200-day moving average price of $160.86. The stock has a market capitalization of $123.82 billion, a PE ratio of 16.93 and a beta of 0.87.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The company earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period last year, the business posted $2.57 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Amgen will post $11.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.42%. Amgen’s payout ratio is 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AMGN. Valley National Advisers Inc. increased its position in shares of Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock worth $109,000 after buying an additional 33 shares during the last quarter. Glassman Wealth Services increased its stake in Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock worth $110,000 after buying an additional 600 shares in the last quarter. Oakworth Capital Inc. increased its stake in Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock worth $111,000 after buying an additional 100 shares in the last quarter. Integrated Wealth Management increased its stake in Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its stake in Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock worth $155,000 after buying an additional 85 shares in 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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