Amgen’s (AMGN) “Hold” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their hold rating on shares of Amgen (NASDAQ:AMGN) in a report issued on Friday, TipRanks reports.

Other analysts also recently issued reports about the stock. Wells Fargo & Co reaffirmed a positive rating and set a $202.00 price objective (up from $197.00) on shares of Amgen in a report on Monday. Royal Bank of Canada reissued a hold rating on shares of Amgen in a report on Sunday. Oppenheimer set a $210.00 price target on shares of Amgen and gave the company a buy rating in a report on Friday, May 24th. Evercore ISI reissued a hold rating on shares of Amgen in a report on Sunday. Finally, Zacks Investment Research downgraded shares of Amgen from a buy rating to a hold rating in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $210.67.

Shares of NASDAQ AMGN traded up $9.53 during trading hours on Friday, hitting $205.78. 9,855,206 shares of the stock were exchanged, compared to its average volume of 3,036,299. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The business’s 50 day moving average is $181.68. The stock has a market cap of $123.41 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.17 and a beta of 1.19. Amgen has a one year low of $166.30 and a one year high of $210.19.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. Amgen’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 EPS. On average, analysts anticipate that Amgen will post 14.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, August 14th. Amgen’s dividend payout ratio is 40.28%.

In other news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,425 shares of company stock valued at $804,312. Corporate insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in AMGN. Bangor Savings Bank increased its position in Amgen by 2.1% in the 1st quarter. Bangor Savings Bank now owns 2,682 shares of the medical research company’s stock valued at $510,000 after acquiring an additional 55 shares in the last quarter. Carroll Financial Associates Inc. increased its position in Amgen by 0.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 7,436 shares of the medical research company’s stock valued at $1,370,000 after acquiring an additional 58 shares in the last quarter. Lincoln Capital Corp increased its position in Amgen by 0.3% in the 2nd quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock valued at $3,959,000 after acquiring an additional 58 shares in the last quarter. Slow Capital Inc. increased its position in Amgen by 0.4% in the 2nd quarter. Slow Capital Inc. now owns 13,799 shares of the medical research company’s stock valued at $2,543,000 after acquiring an additional 58 shares in the last quarter. Finally, CWM LLC increased its position in Amgen by 1.8% in the 2nd quarter. CWM LLC now owns 3,271 shares of the medical research company’s stock valued at $603,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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