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).
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