Jefferies Financial Group Reaffirms Buy Rating for Amgen (AMGN)

Jefferies Financial Group reiterated their buy rating on shares of Amgen (NASDAQ:AMGN) in a research report report published on Tuesday. They currently have a $220.00 price target on the medical research company’s stock.

A number of other research analysts have also recently weighed in on AMGN. Oppenheimer restated a buy rating and set a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. Wells Fargo & Co restated a neutral rating and set a $197.00 target price on shares of Amgen in a research note on Wednesday, August 29th. Royal Bank of Canada restated a neutral rating and set a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Leerink Swann set a $209.00 target price on shares of Amgen and gave the company a hold rating in a research note on Monday, September 17th. Finally, BidaskClub upgraded shares of Amgen from a hold rating to a buy rating in a research note on Wednesday, September 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $205.68.

AMGN opened at $191.44 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.84 and a current ratio of 3.08. Amgen has a fifty-two week low of $163.31 and a fifty-two week high of $210.19. The firm has a market cap of $126.02 billion, a P/E ratio of 15.22, a PEG ratio of 2.05 and a beta of 1.41.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the previous year, the company earned $3.27 EPS. Amgen’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that Amgen will post 14.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 15th will be issued a $1.45 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.32. This represents a $5.80 dividend on an annualized basis and a yield of 3.03%. Amgen’s payout ratio is currently 41.97%.

In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of Amgen stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the sale, the senior vice president now directly owns 23,090 shares in the company, valued at approximately $4,684,499.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Capital International Investors increased its holdings in shares of Amgen by 301.4% in the 3rd quarter. Capital International Investors now owns 11,093,182 shares of the medical research company’s stock worth $2,299,506,000 after buying an additional 8,329,861 shares during the last quarter. Capital World Investors bought a new stake in shares of Amgen in the 3rd quarter worth about $952,900,000. FMR LLC increased its holdings in shares of Amgen by 4.4% in the 3rd quarter. FMR LLC now owns 35,823,268 shares of the medical research company’s stock worth $7,425,805,000 after buying an additional 1,505,266 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Amgen by 36.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,907,575 shares of the medical research company’s stock worth $602,711,000 after buying an additional 773,506 shares during the last quarter. Finally, Natixis increased its holdings in shares of Amgen by 2,612.1% in the 2nd quarter. Natixis now owns 529,816 shares of the medical research company’s stock worth $97,799,000 after buying an additional 510,281 shares during the last quarter. Institutional investors own 76.94% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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