Amgen (AMGN) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a sell rating to a hold rating in a report issued on Thursday.
AMGN has been the topic of several other reports. Mizuho set a $192.00 price target on Amgen and gave the stock a buy rating in a research note on Friday, December 22nd. Zacks Investment Research cut Amgen from a buy rating to a hold rating in a research note on Monday, October 30th. Royal Bank of Canada cut their target price on Amgen from $192.00 to $188.00 and set a sector perform rating on the stock in a research note on Thursday, October 26th. Credit Suisse Group reissued a neutral rating and issued a $186.00 target price (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer reissued a buy rating and issued a $205.00 target price on shares of Amgen in a research note on Thursday, November 30th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Amgen currently has an average rating of Hold and an average target price of $190.15.
Shares of Amgen (NASDAQ:AMGN) traded up $1.69 during mid-day trading on Thursday, reaching $189.28. The company had a trading volume of 3,579,840 shares, compared to its average volume of 2,680,000. The stock has a market capitalization of $137,400.00, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.77 and a beta of 1.36. Amgen has a 12 month low of $150.38 and a 12 month high of $191.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.
Amgen announced that its board has approved a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a dividend of $1.32 per share. The ex-dividend date is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.79%. Amgen’s dividend payout ratio (DPR) is 41.55%.
In related news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the sale, the executive vice president now directly owns 57,631 shares in the company, valued at $9,888,326.98. The disclosure for this sale can be found here. Insiders have sold 8,575 shares of company stock worth $1,508,836 over the last ninety days. 0.19% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Deane Retirement Strategies Inc. lifted its holdings in Amgen by 10,033.0% in the second quarter. Deane Retirement Strategies Inc. now owns 10,133 shares of the medical research company’s stock valued at $1,745,000 after acquiring an additional 10,033 shares during the period. Perkins Coie Trust Co lifted its holdings in Amgen by 99.8% in the second quarter. Perkins Coie Trust Co now owns 2,537 shares of the medical research company’s stock valued at $437,000 after acquiring an additional 1,267 shares during the period. City Holding Co. lifted its holdings in Amgen by 21.1% in the second quarter. City Holding Co. now owns 15,639 shares of the medical research company’s stock valued at $2,693,000 after acquiring an additional 2,725 shares during the period. Oakmont Partners LLC lifted its holdings in Amgen by 45.1% in the second quarter. Oakmont Partners LLC now owns 8,747 shares of the medical research company’s stock valued at $1,506,000 after acquiring an additional 2,717 shares during the period. Finally, Atria Investments LLC lifted its holdings in Amgen by 23.2% in the second quarter. Atria Investments LLC now owns 13,186 shares of the medical research company’s stock valued at $2,271,000 after acquiring an additional 2,484 shares during the period. 78.48% of the stock is currently owned by institutional investors.
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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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