Amgen Inc. (AMGN) Receives Consensus Recommendation of “Buy” from Brokerages
Amgen Inc. (NASDAQ:AMGN) has been assigned an average recommendation of “Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $186.10.
A number of brokerages recently issued reports on AMGN. UBS AG reiterated a “neutral” rating and issued a $174.00 target price (down from $175.00) on shares of Amgen in a report on Monday, May 22nd. Mizuho set a $195.00 price objective on Amgen and gave the company a “buy” rating in a research note on Saturday, May 6th. BMO Capital Markets restated a “buy” rating and set a $198.00 price objective (down from $200.00) on shares of Amgen in a research note on Monday, May 22nd. Cowen and Company restated an “outperform” rating and set a $209.00 price objective on shares of Amgen in a research note on Wednesday, April 19th. Finally, Morgan Stanley raised their price objective on Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, June 13th.
In related news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC raised its position in Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the last quarter. Alpha Omega Wealth Management LLC raised its position in Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after buying an additional 100 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the last quarter. American Beacon Advisors Inc. bought a new position in Amgen during the first quarter worth $106,000. Finally, Nelson Roberts Investment Advisors LLC bought a new position in Amgen during the first quarter worth $121,000. 79.12% of the stock is owned by institutional investors and hedge funds.
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Shares of Amgen (NASDAQ:AMGN) traded down 0.28% during mid-day trading on Tuesday, hitting $170.04. 1,956,277 shares of the stock were exchanged. The stock’s 50 day moving average price is $174.35 and its 200-day moving average price is $167.93. The stock has a market capitalization of $124.07 billion, a P/E ratio of 15.49 and a beta of 1.35. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The company had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period last year, the business earned $2.84 EPS. Amgen’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Amgen will post $12.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is currently 41.93%.
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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