Amgen (NASDAQ:AMGN) had its price target increased by Wells Fargo & Co from $197.00 to $202.00 in a research report report published on Monday, BenzingaRatingsTable reports. Wells Fargo & Co currently has a market perform rating on the medical research company’s stock.
A number of other brokerages have also issued reports on AMGN. Citigroup upgraded Amgen from a neutral rating to a buy rating and reduced their target price for the stock from $211.00 to $205.00 in a research note on Wednesday, May 22nd. BidaskClub upgraded Amgen from a sell rating to a hold rating in a research note on Thursday, August 1st. Morgan Stanley reduced their target price on Amgen from $211.00 to $207.00 and set an overweight rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. restated a hold rating and issued a $190.00 target price on shares of Amgen in a research note on Wednesday, May 15th. Finally, BMO Capital Markets set a $230.00 price objective on Amgen and gave the company a buy rating in a research note on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Amgen currently has an average rating of Buy and a consensus target price of $211.44.
Shares of AMGN stock opened at $199.31 on Monday. The firm has a market capitalization of $123.61 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. The business has a fifty day moving average of $183.54 and a 200 day moving average of $182.71. Amgen has a 1 year low of $166.30 and a 1 year high of $211.90.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $3.83 EPS. As a group, equities research analysts expect that Amgen will post 14.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.91%. Amgen’s payout ratio is currently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now directly owns 16,336 shares in the company, valued at approximately $3,064,306.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,425 shares of company stock worth $804,312 over the last 90 days. Insiders own 0.25% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Capital Financial Planning LLC purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $27,000. Advisors Preferred LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at approximately $30,000. Arbor Wealth Management LLC raised its position in shares of Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after buying an additional 102 shares during the period. C J Advisory Inc purchased a new stake in shares of Amgen during the 1st quarter valued at approximately $40,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.96% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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