Evercore ISI reiterated their hold rating on shares of Amgen (NASDAQ:AMGN) in a report released on Sunday, AnalystRatings.com reports.
“We used a discount rate which is a function of cost of equity and cost of debt. Terminal growth rate estimates were used to derive future cash flows.”,” the firm’s analyst commented.
Several other analysts have also commented on AMGN. Credit Suisse Group began coverage on Amgen in a report on Monday, May 20th. They issued an outperform rating and a $208.00 price objective on the stock. BidaskClub raised Amgen from a sell rating to a hold rating in a report on Thursday, August 1st. Citigroup raised Amgen from a neutral rating to a buy rating and lowered their price target for the stock from $211.00 to $205.00 in a research note on Wednesday, May 22nd. Morgan Stanley lowered their price target on Amgen from $211.00 to $207.00 and set an overweight rating on the stock in a research note on Monday, July 15th. Finally, BMO Capital Markets set a $230.00 price objective on Amgen and gave the stock a buy rating in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $211.44.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period last year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts predict that Amgen will post 14.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares in the company, valued at $3,064,306.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock worth $804,312 in the last 90 days. Insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AMGN. Norges Bank purchased a new position in shares of Amgen in the 4th quarter worth $1,283,248,000. Thoroughbred Financial Services LLC raised its position in shares of Amgen by 19,447.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after buying an additional 1,796,156 shares during the period. BlackRock Inc. raised its position in shares of Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after buying an additional 1,585,911 shares during the period. Ruffer LLP purchased a new position in shares of Amgen in the 2nd quarter worth $192,788,000. Finally, Ellis Investment Partners LLC raised its position in shares of Amgen by 18,906.7% in the 1st quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock worth $605,000 after buying an additional 602,746 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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