Amgen Inc. (AMGN) Stock Rating Lowered by Vetr Inc.
Amgen Inc. (NASDAQ:AMGN) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They presently have a $185.76 price target on the medical research company’s stock. Vetr‘s target price suggests a potential upside of 11.07% from the company’s previous close.
Other analysts also recently issued reports about the company. Jefferies Group restated a “buy” rating on shares of Amgen in a report on Wednesday, September 28th. Robert W. Baird restated an “outperform” rating and set a $157.00 price objective on shares of Amgen in a report on Friday, August 26th. Gabelli assumed coverage on Amgen in a report on Friday, August 26th. They set a “hold” rating for the company. BMO Capital Markets restated an “outperform” rating and set a $190.00 price objective on shares of Amgen in a report on Thursday, September 22nd. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a report on Wednesday, September 28th. 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. Amgen has a consensus rating of “Buy” and a consensus target price of $184.94.
Amgen (NASDAQ:AMGN) opened at 167.24 on Tuesday. The firm has a market cap of $125.16 billion, a PE ratio of 17.11 and a beta of 0.94. Amgen has a one year low of $139.02 and a one year high of $176.85. The firm’s 50 day moving average price is $171.17 and its 200-day moving average price is $161.64.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. Amgen’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS. Equities analysts predict that Amgen will post $11.36 EPS 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 $1.00 dividend. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.39%. Amgen’s 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 that occurred on Tuesday, August 2nd. The shares were 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 SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Oak Associates Ltd. OH raised 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 in the last quarter. National Pension Service raised 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 in the last quarter. PGGM Investments raised its position in Amgen by 9.7% in the second quarter. PGGM Investments now owns 725,684 shares of the medical research company’s stock worth $110,413,000 after buying an additional 64,011 shares in the last quarter. Geode Capital Management LLC raised 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 in the last quarter. Finally, Prudential PLC raised 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 in the last quarter. Institutional investors own 79.15% of the company’s stock.
Amgen Company Profile
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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