Amgen (AMGN) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Amgen (NASDAQ:AMGN) from a buy rating to a strong-buy rating in a research note published on Friday morning.

Other analysts also recently issued research reports about the company. Wells Fargo & Co reissued a neutral rating and set a $197.00 target price on shares of Amgen in a research note on Wednesday, August 29th. Goldman Sachs Group reissued a buy rating and set a $221.00 target price on shares of Amgen in a research note on Wednesday, October 31st. Cantor Fitzgerald assumed coverage on Amgen in a research note on Monday, October 1st. They set a neutral rating and a $223.00 target price on the stock. Jefferies Financial Group reissued a buy rating and set a $220.00 target price on shares of Amgen in a research note on Monday, October 1st. Finally, Royal Bank of Canada reissued a neutral rating on shares of Amgen in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Amgen has a consensus rating of Hold and an average target price of $204.55.

AMGN stock opened at $208.25 on Friday. Amgen has a twelve month low of $163.31 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08. The stock has a market cap of $132.70 billion, a PE ratio of 16.55, a P/E/G ratio of 2.16 and a beta of 1.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. Amgen had a return on equity of 54.14% and a net margin of 9.44%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same period in the previous year, the firm earned $3.27 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Amgen will post 14.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s payout ratio is 41.97%.

A number of large investors have recently added to or reduced their stakes in AMGN. Pillar Pacific Capital Management LLC increased its position in shares of Amgen by 0.5% during the 2nd quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock valued at $10,461,000 after purchasing an additional 254 shares during the last quarter. Murphy Capital Management Inc. boosted its holdings in Amgen by 2.3% during the 3rd quarter. Murphy Capital Management Inc. now owns 11,285 shares of the medical research company’s stock valued at $2,339,000 after acquiring an additional 254 shares during the period. Fairfield Bush & CO. boosted its holdings in Amgen by 0.8% during the 2nd quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock valued at $6,264,000 after acquiring an additional 260 shares during the period. Advisors Capital Management LLC boosted its holdings in Amgen by 5.8% during the 2nd quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock valued at $874,000 after acquiring an additional 261 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in Amgen by 5.8% during the 2nd quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock valued at $889,000 after acquiring an additional 265 shares during the period. 77.91% of the stock is currently owned by institutional investors and hedge funds.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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