Cowen reiterated their buy rating on shares of Amgen (NASDAQ:AMGN) in a research report released on Friday, February 2nd. Cowen currently has a $204.00 price target on the medical research company’s stock.
A number of other brokerages have also recently commented on AMGN. Zacks Investment Research raised 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. Bank of America boosted their price objective on shares of Amgen to $210.00 and gave the stock a buy rating in a report on Thursday, October 5th. Barclays boosted their price objective on shares of Amgen from $180.00 to $190.00 and gave the stock an equal weight rating in a report on Friday, October 13th. Citigroup lowered shares of Amgen to a neutral rating in a report on Monday, December 18th. Finally, Royal Bank of Canada decreased their target price on shares of Amgen from $192.00 to $188.00 and set a sector perform rating for the company in a research note on Thursday, October 26th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $191.84.
Amgen (NASDAQ AMGN) opened at $174.87 on Friday. Amgen has a twelve month low of $152.16 and a twelve month high of $201.23. The company has a market capitalization of $125,121.81, a PE ratio of 68.04, a PEG ratio of 2.13 and a beta of 1.42. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.89 EPS. research analysts expect that Amgen will post 13.22 EPS for the current year.
Amgen declared that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.02%. Amgen’s dividend payout ratio (DPR) is presently 178.99%.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in shares of Amgen by 11.0% during the third quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares in the last quarter. Welch Group LLC bought a new position in shares of Amgen during the second quarter valued at approximately $639,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Amgen by 2.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after purchasing an additional 24,219 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Amgen by 10.3% during the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after purchasing an additional 2,362 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Amgen by 16.5% during the third quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after purchasing an additional 104,871 shares in the last quarter. 78.95% of the stock is currently owned by institutional investors.
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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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