Amgen (NASDAQ:AMGN – Free Report) had its price target raised by The Goldman Sachs Group from $313.00 to $350.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.
AMGN has been the topic of several other reports. Oppenheimer reissued an outperform rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Royal Bank of Canada raised Amgen from a sector perform rating to an outperform rating and lifted their target price for the stock from $256.00 to $300.00 in a report on Tuesday, December 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Amgen in a research report on Thursday, November 9th. They set a hold rating and a $240.00 price objective on the stock. Jefferies Financial Group restated a buy rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, October 12th. Finally, Argus raised their target price on shares of Amgen from $280.00 to $310.00 and gave the stock a buy rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $295.30.
Amgen Stock Down 1.3 %
Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the firm earned $4.09 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that Amgen will post 19.68 earnings per share for the current year.
Amgen Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, February 15th. This is a boost from Amgen’s previous quarterly dividend of $2.13. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.09%. Amgen’s payout ratio is currently 68.21%.
Insider Buying and Selling
In other news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the transaction, the senior vice president now owns 10,874 shares of the company’s stock, valued at $2,968,928.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.
Institutional Trading of Amgen
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its holdings in shares of Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares during the last quarter. Norges Bank purchased a new position in Amgen during the 4th quarter worth $1,556,912,000. Price T Rowe Associates Inc. MD raised its position in Amgen by 158.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock valued at $774,791,000 after purchasing an additional 1,806,456 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Amgen in the 4th quarter worth $4,589,900,000. Finally, Morgan Stanley increased its stake in shares of Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after buying an additional 1,523,665 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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