Amgen Inc. (AMGN) Stock Rating Reaffirmed by Jefferies Group
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group in a report released on Tuesday. They presently have a $198.00 price target on the medical research company’s stock. Jefferies Group’s target price would suggest a potential upside of 14.20% from the company’s previous close.
AMGN has been the topic of a number of other reports. Vetr cut Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 price objective on the stock. in a report on Monday, May 30th. Bank of America Corp. reiterated a “hold” rating and issued a $182.00 price objective on shares of Amgen in a report on Wednesday, June 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $186.00 price objective on shares of Amgen in a report on Thursday, June 9th. Leerink Swann reiterated a “market perform” rating and issued a $186.00 price objective on shares of Amgen in a report on Thursday, June 9th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $202.00 price objective on shares of Amgen in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $184.87.
Shares of Amgen (NASDAQ:AMGN) traded up 1.17% during mid-day trading on Tuesday, reaching $173.38. The company’s stock had a trading volume of 2,607,420 shares. The stock has a 50 day moving average of $172.00 and a 200-day moving average of $159.47. Amgen has a one year low of $130.09 and a one year high of $176.64. The stock has a market cap of $129.75 billion, a P/E ratio of 17.74 and a beta of 0.87.
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Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 EPS. On average, equities research analysts expect that Amgen will post $11.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.31%. Amgen’s payout ratio is currently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Abner Herrman & Brock LLC increased its position in shares of Amgen by 430.9% in the first quarter. Abner Herrman & Brock LLC now owns 31,136 shares of the medical research company’s stock worth $4,668,000 after buying an additional 25,271 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Amgen by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 16,902 shares of the medical research company’s stock valued at $2,534,000 after buying an additional 590 shares in the last quarter. DnB Asset Management AS increased its position in Amgen by 69.2% in the first quarter. DnB Asset Management AS now owns 62,366 shares of the medical research company’s stock valued at $9,351,000 after buying an additional 25,500 shares in the last quarter. CENTRAL TRUST Co bought a new position in Amgen during the first quarter valued at about $7,309,000. Finally, Newman Dignan & Sheerar Inc. increased its position in Amgen by 1.5% in the first quarter. Newman Dignan & Sheerar Inc. now owns 10,834 shares of the medical research company’s stock valued at $1,624,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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