Traders bought shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading hours on Monday. $113.38 million flowed into the stock on the tick-up and $81.94 million flowed out of the stock on the tick-down, for a money net flow of $31.44 million into the stock. Of all equities tracked, Amgen had the 30th highest net in-flow for the day. Amgen traded down ($0.69) for the day and closed at $174.59
Several brokerages have recently commented on AMGN. Morgan Stanley reduced their target price on Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Argus cut Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $175.22 to $195.00 in a report on Wednesday. Mizuho set a $198.00 price target on Amgen and gave the stock a “buy” rating in a report on Sunday. BMO Capital Markets reissued a “market perform” rating and set a $198.00 price target on shares of Amgen in a report on Thursday, October 26th. Finally, Royal Bank Of Canada dropped their price target on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $190.03.
The firm has a market cap of $128.59 billion, a P/E ratio of 16.05 and a beta of 1.36. The stock’s 50-day moving average is $184.39 and its 200 day moving average is $172.38.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter last year, the business posted $3.02 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post $12.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.63%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
Amgen announced that its board has authorized a share buyback plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Waldron LP purchased a new stake in Amgen during the first quarter valued at about $444,000. Canada Pension Plan Investment Board grew its stake in shares of Amgen by 31.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,029,961 shares of the medical research company’s stock valued at $168,986,000 after buying an additional 248,900 shares during the last quarter. Cadence Bank NA grew its stake in shares of Amgen by 6.2% during the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock valued at $554,000 after buying an additional 197 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Amgen during the first quarter valued at about $738,000. Finally, Camelot Portfolios LLC bought a new position in shares of Amgen during the first quarter valued at about $1,429,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
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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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