Amgen (AMGN) Downgraded to Neutral at Citigroup

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).

The Fly

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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