Amgen Inc. (AMGN) Reaches New 1-Year High at $185.20

Amgen Inc. (NASDAQ:AMGN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $185.20 and last traded at $185.24, with a volume of 1,612,394 shares traded. The stock had previously closed at $180.64.

AMGN has been the topic of a number of research reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $189.00 target price on shares of Amgen in a research note on Friday, May 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $180.00 target price on shares of Amgen in a research note on Monday, May 22nd. UBS AG reaffirmed a “neutral” rating and set a $174.00 target price (down previously from $175.00) on shares of Amgen in a research note on Monday, May 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $198.00 target price (down previously from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Finally, Leerink Swann set a $159.00 target price on shares of Amgen and gave the company a “hold” rating in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $186.04.

The stock has a 50-day moving average of $173.95 and a 200 day moving average of $168.82. The stock has a market capitalization of $139.37 billion, a price-to-earnings ratio of 17.40 and a beta of 1.35.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period last year, the business earned $2.84 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Amgen Inc. will post $12.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, August 15th. Amgen’s dividend payout ratio is currently 41.93%.

Large investors have recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC boosted its holdings in shares of Amgen by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of Amgen by 19.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Amgen by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in shares of Amgen in the 1st quarter valued at approximately $106,000. Finally, Phocas Financial Corp. purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $110,000. Institutional investors and hedge funds own 78.14% of the company’s stock.

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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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