Amgen’s (AMGN) Buy Rating Reiterated at Jefferies Group
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating restated by analysts at Jefferies Group in a research report issued on Tuesday. They presently have a $198.00 price target on the medical research company’s stock. Jefferies Group’s price target would suggest a potential upside of 15.53% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Leerink Swann reaffirmed a “hold” rating on shares of Amgen in a research note on Saturday. Credit Suisse Group AG set a $206.00 price objective on Amgen and gave the company a “buy” rating in a research note on Saturday. Vetr raised Amgen from a “hold” rating to a “buy” rating and set a $159.50 price objective for the company in a research note on Monday, June 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $157.00 price objective on shares of Amgen in a research note on Friday, July 15th. Finally, Morgan Stanley raised their price objective on Amgen from $198.00 to $199.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $184.87.
Amgen (NASDAQ:AMGN) opened at 171.38 on Tuesday. The firm has a market cap of $128.25 billion, a price-to-earnings ratio of 17.54 and a beta of 0.87. Amgen has a 52 week low of $130.09 and a 52 week high of $176.64. The stock has a 50 day moving average price of $172.00 and a 200 day moving average price of $159.47.
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Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The firm earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the business posted $2.57 EPS. Amgen’s quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts expect that Amgen will post $11.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, August 15th. Amgen’s payout ratio is 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Amgen during the second quarter worth about $383,036,000. Wellington Management Group LLP raised its stake in shares of Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock valued at $2,030,789,000 after buying an additional 1,864,688 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock valued at $870,171,000 after buying an additional 1,547,099 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Amgen during the second quarter valued at $194,466,000. Finally, FMR LLC raised its stake in shares of Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock valued at $4,927,672,000 after buying an additional 1,259,875 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
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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