Shares of Amgen Inc. (NASDAQ:AMGN) have earned a consensus rating of “Buy” from the twenty-five analysts that are covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $190.03.
AMGN has been the subject of several recent analyst reports. ValuEngine upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Mizuho reiterated a “buy” rating and issued a $195.00 target price on shares of Amgen in a research note on Sunday, July 9th. Morgan Stanley reiterated an “overweight” rating on shares of Amgen in a research note on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Amgen in a research note on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $189.00 target price on shares of Amgen in a research note on Friday, July 14th.
Amgen (NASDAQ:AMGN) traded down 0.70% during trading on Friday, hitting $175.28. The stock had a trading volume of 3,478,617 shares. Amgen has a 12-month low of $133.64 and a 12-month high of $191.10. The stock has a 50 day moving average price of $184.87 and a 200 day moving average price of $172.14. The company has a market capitalization of $127.90 billion, a price-to-earnings ratio of 15.97 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the business posted $3.02 EPS. Amgen’s revenue was down .7% on a year-over-year basis. Equities research analysts forecast that Amgen will post $12.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a yield of 2.62%. Amgen’s dividend payout ratio (DPR) is 41.63%.
Amgen declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Baker Ellis Asset Management LLC acquired a new stake in Amgen in the third quarter valued at approximately $108,000. TrimTabs Asset Management LLC boosted its position in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new stake in Amgen in the second quarter valued at approximately $110,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.
Amgen Company Profile
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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