Amgen (NASDAQ:AMGN) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Amgen (NASDAQ:AMGN) from a hold rating to a sell rating in a research report released on Thursday morning, BidAskClub reports.

A number of other brokerages have also recently commented on AMGN. William Blair reissued a hold rating on shares of Amgen in a research report on Friday, August 30th. Wells Fargo & Co reaffirmed a market perform rating and issued a $220.00 price objective (up from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Royal Bank of Canada upped their price objective on Amgen from $192.00 to $206.00 and gave the company a sector perform rating in a research report on Tuesday, August 27th. Piper Jaffray Companies upped their price objective on Amgen from $210.00 to $218.00 and gave the company an overweight rating in a research report on Monday, August 26th. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $230.00 price objective (up from $221.00) on shares of Amgen in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of Hold and a consensus target price of $217.33.

Shares of AMGN traded up $1.92 during mid-day trading on Thursday, reaching $195.92. The company had a trading volume of 811,219 shares, compared to its average volume of 2,890,083. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The firm has a 50-day moving average price of $196.19 and a 200 day moving average price of $185.15. Amgen has a 52 week low of $166.30 and a 52 week high of $211.90. The company has a market capitalization of $118.06 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the previous year, the firm posted $3.83 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Amgen will post 14.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a $1.45 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.96%. Amgen’s dividend payout ratio (DPR) is 40.28%.

In other news, SVP Cynthia M. Patton sold 13,426 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the sale, the senior vice president now directly owns 32,648 shares in the company, valued at approximately $6,793,069.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock valued at $3,659,900 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Amgen by 0.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 199,207 shares of the medical research company’s stock valued at $36,710,000 after purchasing an additional 1,124 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Amgen during the 2nd quarter valued at about $212,000. Vista Private Wealth Partners. LLC lifted its holdings in shares of Amgen by 8.7% during the 2nd quarter. Vista Private Wealth Partners. LLC now owns 1,303 shares of the medical research company’s stock valued at $265,000 after purchasing an additional 104 shares in the last quarter. Boston Partners lifted its holdings in shares of Amgen by 3.3% during the 2nd quarter. Boston Partners now owns 10,836 shares of the medical research company’s stock valued at $1,997,000 after purchasing an additional 348 shares in the last quarter. Finally, Atria Investments LLC lifted its holdings in shares of Amgen by 191.2% during the 2nd quarter. Atria Investments LLC now owns 28,747 shares of the medical research company’s stock valued at $5,834,000 after purchasing an additional 18,874 shares in the last quarter. Hedge funds and other institutional investors own 76.28% of the company’s stock.

About Amgen

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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