Several other research firms have also recently weighed in on AMGN. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $203.00 price objective (up from $189.00) on shares of Amgen in a research report on Wednesday, July 26th. ValuEngine upgraded shares of Amgen from a hold rating to a buy rating in a research report on Thursday, July 6th. BMO Capital Markets cut shares of Amgen from an outperform rating to a market perform rating in a research report on Wednesday, July 26th. Argus upped their price objective on shares of Amgen from $180.00 to $195.00 and gave the stock a buy rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG restated a hold rating and issued a $174.00 price objective (up from $172.00) on shares of Amgen in a research report on Wednesday, July 26th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $190.03.
Shares of Amgen (NASDAQ:AMGN) opened at 175.22 on Friday. The company’s 50 day moving average is $184.39 and its 200 day moving average is $172.38. Amgen has a one year low of $133.64 and a one year high of $191.10. The company has a market capitalization of $127.85 billion, a price-to-earnings ratio of 15.96 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. Amgen’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.02 earnings per share. Equities research analysts predict that Amgen will post $12.66 earnings per share for the current year.
Amgen announced that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared 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. This represents a $4.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, November 16th. Amgen’s payout ratio is 41.63%.
In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Camelot Portfolios LLC purchased a new stake in Amgen in the first quarter worth $1,429,000. PGGM Investments lifted its position in Amgen by 2.3% during the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock valued at $115,555,000 after buying an additional 15,059 shares during the period. Shelton Capital Management lifted its position in Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after buying an additional 49,354 shares during the period. Greylin Investment Mangement Inc. lifted its position in Amgen by 466.9% during the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock valued at $2,416,000 after buying an additional 11,555 shares during the period. Finally, Kelman Lazarov Inc. lifted its position in Amgen by 8.2% during the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock valued at $272,000 after buying an additional 120 shares during the period. 78.13% of the stock is owned by institutional investors.
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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