Amgen Inc. (AMGN) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of Amgen Inc. (NASDAQ:AMGN) from a buy rating to a strong-buy rating in a research note published on Thursday. Vetr currently has $188.11 price target on the medical research company’s stock.
Several other equities analysts have also weighed in on AMGN. Leerink Swann reissued a hold rating on shares of Amgen in a research note on Saturday, September 17th. Credit Suisse Group AG set a $206.00 target price on Amgen and gave the company a buy rating in a research note on Saturday, September 17th. JPMorgan Chase & Co. restated a hold rating on shares of Amgen in a report on Wednesday. Robert W. Baird restated an outperform rating and issued a $157.00 price target on shares of Amgen in a report on Friday, August 26th. Finally, Citigroup Inc. increased their price target on Amgen from $165.00 to $175.00 and gave the stock a neutral rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $185.06.
Shares of Amgen (NASDAQ:AMGN) traded up 0.57% during mid-day trading on Thursday, reaching $166.39. 632,762 shares of the company’s stock traded hands. Amgen has a 1-year low of $135.64 and a 1-year high of $176.85. The company has a market capitalization of $124.52 billion, a P/E ratio of 17.03 and a beta of 0.87. The firm has a 50-day moving average price of $171.84 and a 200-day moving average price of $160.86.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the 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 firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the prior year, the firm posted $2.57 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Wednesday, August 17th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio (DPR) is currently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Oak Associates Ltd. OH increased its position in Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock worth $31,592,000 after buying an additional 581 shares during the period. National Pension Service increased its position in Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock worth $56,722,000 after buying an additional 15,376 shares during the period. Geode Capital Management LLC increased its position in 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 worth $964,334,000 after buying an additional 132,632 shares during the period. Prudential PLC increased its position in Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock worth $159,359,000 after buying an additional 311,157 shares during the period. Finally, Legal & General Group Plc increased its position in 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 worth $489,239,000 after buying an additional 32,086 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.
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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