Amgen Inc. (NASDAQ:AMGN) had its target price reduced by Citigroup Inc. from $175.00 to $172.00 in a research note released on Wednesday morning. They currently have a neutral rating on the medical research company’s stock.
A number of other analysts have also issued reports on AMGN. Vetr raised shares of Amgen from a sell rating to a hold rating and set a $171.34 target price for the company in a research note on Wednesday, August 3rd. Leerink Swann reissued a hold rating on shares of Amgen in a research note on Saturday, September 17th. Credit Suisse Group AG set a $206.00 price objective on shares of Amgen and gave the stock a buy rating in a research note on Saturday, September 17th. Robert W. Baird reaffirmed an outperform rating and issued a $157.00 price objective on shares of Amgen in a research note on Friday, August 26th. Finally, Zacks Investment Research raised shares of Amgen from a hold rating to a buy rating and set a $166.00 price objective for the company in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $185.06.
Shares of Amgen (NASDAQ:AMGN) opened at 167.34 on Wednesday. The company has a market capitalization of $125.23 billion, a price-to-earnings ratio of 17.12 and a beta of 0.94. The stock has a 50 day moving average of $171.51 and a 200-day moving average of $161.44. Amgen has a 52 week low of $138.06 and a 52 week high of $176.85.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. On average, analysts anticipate that Amgen will post $11.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were issued a dividend of $1.00 per share. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.39%. Amgen’s dividend payout ratio (DPR) is currently 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Amgen during the second quarter valued at $383,036,000. Wellington Management Group LLP increased its position in shares of Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock valued at $2,030,789,000 after buying an additional 1,864,688 shares during the period. Nordea Investment Management AB increased its position in shares of Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock valued at $870,171,000 after buying an additional 1,547,099 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Amgen during the second quarter valued at $194,466,000. Finally, FMR LLC increased its position in shares of Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock valued at $4,927,672,000 after buying an additional 1,259,875 shares during the period. Institutional investors own 79.15% of the company’s stock.
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).
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