Amgen (NASDAQ:AMGN) Lowered to “Strong Sell” at BidaskClub

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

Several other brokerages have also issued reports on AMGN. Evercore ISI raised Amgen from an in-line rating to an outperform rating in a research report on Tuesday, January 21st. BMO Capital Markets increased their target price on Amgen from $240.00 to $275.00 and gave the stock an outperform rating in a research report on Thursday, January 9th. Citigroup increased their target price on Amgen from $245.00 to $275.00 and gave the stock an in-line rating in a research report on Thursday, January 23rd. Morgan Stanley decreased their target price on Amgen from $280.00 to $277.00 and set an overweight rating for the company in a research report on Friday, January 17th. Finally, Credit Suisse Group reissued a buy rating and issued a $252.00 target price on shares of Amgen in a research report on Sunday, February 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $237.33.

Shares of NASDAQ:AMGN opened at $221.69 on Friday. Amgen has a 52-week low of $166.30 and a 52-week high of $244.99. The firm has a market capitalization of $131.81 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.96 and a beta of 1.13. The stock has a 50 day moving average price of $231.98 and a 200-day moving average price of $216.79. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.16 and a current ratio of 1.44.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, January 30th. The medical research company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. Amgen had a return on equity of 85.52% and a net margin of 33.57%. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the company earned $3.42 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Amgen will post 15.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $1.45. Amgen’s dividend payout ratio (DPR) is 43.18%.

In other Amgen news, SVP David Piacquad sold 9,264 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $229.93, for a total transaction of $2,130,071.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 9,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $230.54, for a total value of $2,074,860.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,426 shares of company stock valued at $6,351,866. 0.25% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after buying an additional 1,585,911 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Amgen by 1.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 484,456 shares of the medical research company’s stock worth $93,747,000 after buying an additional 6,169 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Amgen by 0.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,939 shares of the medical research company’s stock worth $1,343,000 after buying an additional 63 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its stake in shares of Amgen by 4.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,529 shares of the medical research company’s stock worth $489,000 after buying an additional 116 shares during the last quarter. Finally, Endurance Wealth Management Inc. boosted its stake in shares of Amgen by 1.6% in the 3rd quarter. Endurance Wealth Management Inc. now owns 31,366 shares of the medical research company’s stock worth $6,070,000 after buying an additional 506 shares during the last quarter. Institutional investors and hedge funds own 76.92% 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.

Further Reading: How Does the Quiet Period Work?

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit