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

Investors sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading on Wednesday. $228.45 million flowed into the stock on the tick-up and $267.56 million flowed out of the stock on the tick-down, for a money net flow of $39.11 million out of the stock. Of all companies tracked, Amgen had the 33rd highest net out-flow for the day. Amgen traded up $0.82 for the day and closed at $177.47

A number of equities analysts have commented on the stock. Piper Jaffray Companies reduced their target price on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Cowen reiterated a “buy” rating and issued a $204.00 target price on shares of Amgen in a report on Friday, February 2nd. BMO Capital Markets boosted their target price on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Leerink Swann reiterated a “market perform” rating on shares of Amgen in a report on Friday, February 2nd. Finally, Atlantic Securities downgraded shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 target price for the company. in a report on Monday. Sixteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $191.49.

The company has a market capitalization of $125,920.00, a PE ratio of 67.23, a P/E/G ratio of 2.18 and a beta of 1.42. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company earned $2.89 EPS. Amgen’s quarterly revenue was down 2.7% on a year-over-year basis. equities analysts forecast that Amgen, Inc. will post 13.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio is currently 178.29%.

Amgen announced that its board has approved a stock buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value of $269,665.75. Following the sale, the executive vice president now owns 56,106 shares in the company, valued at approximately $9,921,223.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 4,575 shares of company stock worth $814,396. Insiders own 0.19% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Baker Ellis Asset Management LLC purchased a new stake in Amgen in the 3rd quarter worth approximately $108,000. Jackson Grant Investment Advisers Inc. lifted its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $110,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Amgen by 110.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after buying an additional 340 shares in the last quarter. Finally, Omnia Family Wealth LLC lifted its position in shares of Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 78.59% 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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