Investors Sell Shares of Amgen (AMGN) on Strength (AMGN)

Investors sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading hours on Wednesday. $65.31 million flowed into the stock on the tick-up and $247.37 million flowed out of the stock on the tick-down, for a money net flow of $182.06 million out of the stock. Of all equities tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $0.24 for the day and closed at $177.11

A number of research firms recently weighed in on AMGN. BMO Capital Markets reissued a “market perform” rating and issued a $198.00 target price on shares of Amgen in a report on Thursday, October 26th. Cann reissued a “buy” rating on shares of Amgen in a report on Monday, August 28th. Oppenheimer reissued a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Mizuho reissued a “buy” rating and issued a $198.00 target price (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Finally, Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $190.22.

The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $128,250.00, a P/E ratio of 14.08, a P/E/G ratio of 2.56 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 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. Amgen’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.02 earnings per share. sell-side analysts predict that Amgen, Inc. will post 12.67 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, February 14th. Amgen’s payout ratio is currently 41.55%.

Amgen announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Insiders have sold 8,575 shares of company stock valued at $1,509,339 over the last three months. Insiders own 0.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AMGN. PGGM Investments raised its holdings in shares of Amgen by 2.3% in the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock valued at $115,555,000 after acquiring an additional 15,059 shares in the last quarter. Shelton Capital Management raised its holdings in shares of Amgen by 82.7% in the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock valued at $17,883,000 after acquiring an additional 49,354 shares in the last quarter. Greylin Investment Mangement Inc. raised its holdings in shares of Amgen by 466.9% in 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 acquiring an additional 11,555 shares in the last quarter. Kelman Lazarov Inc. raised its holdings in shares of Amgen by 8.2% in the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock valued at $272,000 after acquiring an additional 120 shares in the last quarter. Finally, Osborne Partners Capital Management LLC raised its holdings in shares of Amgen by 0.5% in the second quarter. Osborne Partners Capital Management LLC now owns 17,023 shares of the medical research company’s stock valued at $2,932,000 after acquiring an additional 91 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

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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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