Amgen Inc. (AMGN) Given a $163.00 Price Target at Leerink Swann
Several other research firms have also recently commented on AMGN. Vetr upgraded shares of Amgen from a sell rating to a hold rating and set a $165.78 target price for the company in a research note on Wednesday, July 27th. Zacks Investment Research cut shares of Amgen from a buy rating to a hold rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. reiterated a buy rating and issued a $206.00 price objective (up previously from $204.00) on shares of Amgen in a research note on Tuesday, September 27th. Robert W. Baird reiterated a neutral rating and issued a $157.00 price objective on shares of Amgen in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $206.00 price objective on shares of Amgen in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $182.04.
Shares of Amgen (NASDAQ:AMGN) opened at 146.30 on Monday. The company’s 50-day moving average is $153.94 and its 200 day moving average is $160.72. Amgen has a 52 week low of $133.64 and a 52 week high of $176.85. The stock has a market cap of $108.84 billion, a PE ratio of 14.64 and a beta of 1.15.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, October 27th. The medical research company reported $3.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.23. Amgen had a net margin of 33.63% and a return on equity of 29.27%. The company earned $5.81 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the business earned $2.72 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Analysts forecast that Amgen will post $11.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Monday, November 14th. Amgen’s dividend payout ratio is presently 39.92%.
A number of hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its stake in Amgen by 298.1% in the first quarter. Squarepoint Ops LLC now owns 10,135 shares of the medical research company’s stock worth $1,520,000 after buying an additional 7,589 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Amgen by 17.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,240 shares of the medical research company’s stock worth $10,262,000 after buying an additional 9,931 shares in the last quarter. Avalon Advisors LLC raised its stake in Amgen by 59.9% in the first quarter. Avalon Advisors LLC now owns 184,817 shares of the medical research company’s stock worth $27,710,000 after buying an additional 69,224 shares in the last quarter. Laffer Investments raised its stake in Amgen by 14.4% in the first quarter. Laffer Investments now owns 2,820 shares of the medical research company’s stock worth $423,000 after buying an additional 354 shares in the last quarter. Finally, Cypress Capital Group raised its stake in Amgen by 1.5% in the first quarter. Cypress Capital Group now owns 5,073 shares of the medical research company’s stock worth $761,000 after buying an additional 73 shares in the last quarter. 79.20% 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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