Amgen (NASDAQ:AMGN) had its target price trimmed by Barclays from $190.00 to $180.00 in a report published on Thursday morning, MarketBeat reports. The brokerage currently has an equal weight rating on the medical research company’s stock.
AMGN has been the subject of several other research reports. Mizuho upped their price target on Amgen from $192.00 to $200.00 and gave the company a buy rating in a report on Monday, February 12th. Leerink Swann reissued a market perform rating on shares of Amgen in a report on Friday, February 2nd. Morgan Stanley dropped their target price on Amgen from $204.00 to $196.00 and set an overweight rating for the company in a report on Friday, February 2nd. BMO Capital Markets increased their target price on Amgen from $192.00 to $202.00 and gave the stock a market perform rating in a report on Friday, February 2nd. Finally, JPMorgan Chase reissued a hold rating and issued a $191.00 target price on shares of Amgen in a report on Sunday, February 4th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. Amgen currently has a consensus rating of Hold and an average price target of $190.57.
Amgen stock opened at $168.14 on Thursday. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $121,155.33, a price-to-earnings ratio of 13.37, a PEG ratio of 2.06 and a beta of 1.36. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.
Amgen announced that its board has authorized a share buyback plan on Thursday, February 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a dividend of $1.32 per share. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.14%. Amgen’s dividend payout ratio is 41.97%.
In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,575 shares of company stock valued at $838,064 over the last ninety days. Insiders own 0.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC acquired a new stake in Amgen during the 3rd quarter valued at $108,000. Phocas Financial Corp. bought a new position in Amgen in the 2nd quarter valued at $110,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Amgen by 110.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after buying an additional 340 shares during the last quarter. Taylor Hoffman Wealth Management bought a new position in Amgen in the 4th quarter valued at $127,000. Finally, Salem Investment Counselors Inc. boosted its position in Amgen by 4.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after buying an additional 36 shares during the last quarter. 79.55% of the stock is owned by hedge funds and other institutional investors.
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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