Citigroup cut shares of Amgen (NASDAQ:AMGN) to a neutral rating in a research note issued to investors on Monday, December 18th, The Fly reports.
Other equities analysts also recently issued reports about the stock. Credit Suisse Group reaffirmed a neutral rating and set a $186.00 price objective (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They set a sector perform rating and a $192.00 price objective for the company. Mizuho reaffirmed a buy rating and set a $183.00 price objective (down from $195.00) on shares of Amgen in a research note on Monday, August 21st. Morgan Stanley reduced their price target on shares of Amgen from $196.00 to $193.00 and set an overweight rating on the stock in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Amgen from a hold rating to a buy rating and set a $199.00 price target on the stock in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $190.15.
Shares of Amgen (AMGN) traded down $0.90 during trading hours on Monday, reaching $181.96. 2,100,000 shares of the company traded hands, compared to its average volume of 2,730,000. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market capitalization of $132,090.00, a price-to-earnings ratio of 16.44, a PEG ratio of 2.60 and a beta of 1.36. Amgen has a one year low of $150.38 and a one year high of $191.10.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.02 earnings per share. equities analysts predict that Amgen will post 12.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 41.55%.
Amgen declared that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total transaction of $269,665.75. Following the sale, the executive vice president now owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock valued at $1,225,765 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Several large investors have recently bought and sold shares of AMGN. TrimTabs Asset Management LLC grew its position in Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new stake in Amgen during the 3rd quarter worth approximately $108,000. Jackson Grant Investment Advisers Inc. grew its position in Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Amgen during the 2nd quarter worth approximately $110,000. Finally, Omnia Family Wealth LLC boosted its holdings in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
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Amgen Company Profile
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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