Credit Suisse Group reiterated their buy rating on shares of Amgen (NASDAQ:AMGN) in a research note released on Wednesday morning, AnalystRatings.com reports.
AMGN has been the subject of several other reports. Morgan Stanley dropped their price objective on Amgen from $285.00 to $281.00 and set an overweight rating for the company in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Amgen from $263.00 to $279.00 and gave the company an overweight rating in a research note on Wednesday. BidaskClub downgraded Amgen from a buy rating to a hold rating in a research note on Saturday, July 25th. Piper Sandler raised their price objective on Amgen from $255.00 to $270.00 and gave the company an overweight rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group raised their price objective on Amgen from $285.00 to $300.00 and gave the company a buy rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $253.15.
AMGN opened at $244.67 on Wednesday. The company has a debt-to-equity ratio of 3.20, a current ratio of 2.18 and a quick ratio of 1.28. The business has a 50 day simple moving average of $244.08 and a 200-day simple moving average of $227.31. The stock has a market capitalization of $143.93 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.08 and a beta of 0.94. Amgen has a 12 month low of $177.05 and a 12 month high of $264.97.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 14th. Amgen’s payout ratio is currently 43.18%.
In related news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the transaction, the director now owns 5,834 shares in the company, valued at $1,384,466.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $228.54, for a total value of $228,540.00. Following the completion of the transaction, the director now owns 16,576 shares in the company, valued at approximately $3,788,279.04. The disclosure for this sale can be found here. Insiders sold 3,425 shares of company stock worth $818,457 in the last quarter. 0.36% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Price Wealth LLC boosted its holdings in Amgen by 42.9% in the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 42 shares during the last quarter. Lake Point Wealth Management boosted its holdings in Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 159 shares during the last quarter. Column Capital Advisors LLC lifted its stake in shares of Amgen by 98.0% during the first quarter. Column Capital Advisors LLC now owns 194 shares of the medical research company’s stock worth $39,000 after purchasing an additional 96 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the first quarter worth about $47,000. Finally, Campbell Wealth Management acquired a new position in shares of Amgen during the second quarter worth about $51,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.
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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