Jefferies Group LLC Reaffirms Buy Rating for Amgen Inc. (AMGN)
Jefferies Group LLC restated their buy rating on shares of Amgen Inc. (NASDAQ:AMGN) in a research note released on Monday morning. They currently have a $200.00 target price on the medical research company’s stock.
Several other research analysts also recently commented on AMGN. ValuEngine downgraded shares of Amgen from a buy rating to a hold rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 price objective on shares of Amgen and gave the company a buy rating in a report on Monday, June 5th. Sanford C. Bernstein set a $164.00 price objective on shares of Amgen and gave the company a hold rating in a report on Thursday, June 8th. Morgan Stanley increased their price objective on shares of Amgen from $183.00 to $184.00 and gave the company an overweight rating in a report on Tuesday, June 13th. Finally, UBS AG reissued a neutral rating and set a $175.00 price objective (up previously from $174.00) on shares of Amgen in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $186.39.
Shares of Amgen (NASDAQ:AMGN) opened at 184.88 on Monday. Amgen has a 52 week low of $133.64 and a 52 week high of $191.10. The firm’s 50-day moving average price is $175.99 and its 200 day moving average price is $169.31. The company has a market cap of $134.90 billion, a price-to-earnings ratio of 16.84 and a beta of 1.35.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the firm earned $2.84 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Amgen will post $12.57 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is presently 41.93%.
Several large investors have recently modified their holdings of AMGN. OLD Point Trust & Financial Services N A increased its position in shares of Amgen by 5.9% during the first quarter. OLD Point Trust & Financial Services N A now owns 25,793 shares of the medical research company’s stock worth $4,232,000 after acquiring an additional 1,433 shares during the period. Abner Herrman & Brock LLC increased its holdings in Amgen by 8.3% during the first quarter. Abner Herrman & Brock LLC now owns 41,442 shares of the medical research company’s stock valued at $6,799,000 after buying an additional 3,181 shares during the period. Nippon Life Insurance Co. increased its holdings in Amgen by 6.1% during the first quarter. Nippon Life Insurance Co. now owns 29,664 shares of the medical research company’s stock valued at $4,867,000 after buying an additional 1,718 shares during the period. Raub Brock Capital Management LP increased its holdings in Amgen by 9.4% during the first quarter. Raub Brock Capital Management LP now owns 77,723 shares of the medical research company’s stock valued at $12,752,000 after buying an additional 6,689 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV increased its holdings in Amgen by 3.6% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 11,395 shares of the medical research company’s stock valued at $1,870,000 after buying an additional 400 shares during the period. 78.10% 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. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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