Vetr upgraded shares of Amgen Inc. (NASDAQ:AMGN) from a buy rating to a strong-buy rating in a report released on Thursday morning. They currently have $188.11 target price on the medical research company’s stock.
Several other brokerages have also issued reports on AMGN. Jefferies Group reaffirmed a buy rating on shares of Amgen in a research note on Wednesday. Robert W. Baird reaffirmed an outperform rating and set a $157.00 price target on shares of Amgen in a research note on Friday, August 26th. Gabelli started coverage on Amgen in a research note on Friday, August 26th. They set a hold rating on the stock. BMO Capital Markets reaffirmed an outperform rating and set a $190.00 price target on shares of Amgen in a research note on Thursday, September 22nd. Finally, JPMorgan Chase & Co. reaffirmed a hold rating on shares of Amgen in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $185.06.
Shares of Amgen (NASDAQ:AMGN) traded up 0.57% during mid-day trading on Thursday, reaching $166.39. The company’s stock had a trading volume of 632,762 shares. The company has a market cap of $124.52 billion, a P/E ratio of 17.03 and a beta of 0.87. Amgen has a 12 month low of $135.64 and a 12 month high of $176.85. The company has a 50-day moving average of $171.84 and a 200-day moving average of $160.86.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Equities research analysts forecast that Amgen will post $11.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.42%. Amgen’s payout ratio is 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in AMGN. Macquarie Group Ltd. boosted its stake in Amgen by 3.6% in the second quarter. Macquarie Group Ltd. now owns 105,159 shares of the medical research company’s stock worth $16,000,000 after buying an additional 3,625 shares during the last quarter. Carnick & Kubik Group LLC acquired a new stake in Amgen during the second quarter worth about $2,307,000. Williams Jones & Associates LLC boosted its stake in Amgen by 399.6% in the second quarter. Williams Jones & Associates LLC now owns 71,431 shares of the medical research company’s stock worth $10,868,000 after buying an additional 57,132 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Amgen during the second quarter worth about $4,615,000. Finally, Kentucky Retirement Systems acquired a new stake in Amgen during the second quarter worth about $9,720,000. 79.15% of the stock is owned by institutional investors.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
To view Vetr’s full report, visit Vetr’s official website.
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