Amgen Inc. (AMGN) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets cut shares of Amgen Inc. (NASDAQ:AMGN) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, July 26th, The Fly reports.

Other equities analysts have also issued reports about the company. Mizuho set a $195.00 target price on Amgen and gave the stock a buy rating in a research report on Saturday, May 6th. UBS AG restated a neutral rating and set a $174.00 target price (down from $175.00) on shares of Amgen in a research report on Monday, May 22nd. Cowen and Company restated an outperform rating and set a $209.00 target price on shares of Amgen in a research report on Wednesday, April 19th. Morgan Stanley boosted their target price on Amgen from $183.00 to $184.00 and gave the stock an overweight rating in a research report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $189.00 price objective on shares of Amgen in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $186.64.

Shares of Amgen (NASDAQ AMGN) traded down 0.19% during trading on Wednesday, reaching $173.85. 1,915,679 shares of the company’s stock were exchanged. Amgen has a 52 week low of $133.64 and a 52 week high of $184.21. The firm has a market capitalization of $126.85 billion, a PE ratio of 15.83 and a beta of 1.35. The company’s 50-day moving average price is $173.04 and its 200 day moving average price is $166.70.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.84 EPS. Analysts predict that Amgen will post $12.57 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is presently 41.93%.

In related news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares in the company, valued at approximately $3,738,641.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Amgen by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock worth $1,403,676,000 after buying an additional 195,200 shares during the period. Norges Bank acquired a new stake in Amgen during the fourth quarter worth $1,016,913,000. Legal & General Group Plc raised its position in shares of Amgen by 2.5% in the second quarter. Legal & General Group Plc now owns 3,721,359 shares of the medical research company’s stock worth $640,938,000 after buying an additional 90,615 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Amgen by 4.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 3,001,021 shares of the medical research company’s stock worth $438,779,000 after buying an additional 133,918 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,962,595 shares of the medical research company’s stock worth $510,248,000 after buying an additional 67,815 shares in the last quarter. Institutional investors and hedge funds own 78.82% of the company’s stock.

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).

The Fly

Analyst Recommendations for Amgen (NASDAQ:AMGN)




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