Amgen (AMGN) Stock Rating Lowered by Citigroup

Citigroup cut shares of Amgen (NASDAQ:AMGN) to a neutral rating in a research report report published on Monday, December 18th, The Fly reports.

AMGN has been the subject of several other reports. Credit Suisse Group reiterated a neutral rating and set a $186.00 target price (up from $177.00) on shares of Amgen in a report on Friday, September 29th. Royal Bank of Canada began coverage on shares of Amgen in a report on Thursday, September 14th. They set a sector perform rating and a $192.00 target price for the company. Mizuho reiterated a buy rating and set a $183.00 target price (down from $195.00) on shares of Amgen in a report on Monday, August 21st. Morgan Stanley lowered their target price on shares of Amgen from $196.00 to $193.00 and set an overweight rating for the company in a 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 objective for the company in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $190.15.

Amgen (NASDAQ AMGN) traded up $3.08 during midday trading on Monday, hitting $185.04. The company had a trading volume of 3,082,770 shares, compared to its average volume of 2,720,000. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. Amgen has a 12 month low of $150.38 and a 12 month high of $191.10. The company has a market capitalization of $134,320.00, a PE ratio of 16.72, a PEG ratio of 2.66 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period last year, the business posted $3.02 earnings per share. Amgen’s quarterly revenue was down .7% compared to the same quarter last year. equities analysts anticipate that Amgen will post 12.71 EPS for the current year.

Amgen declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.85%. Amgen’s payout ratio is 41.55%.

In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the sale, the executive vice president now owns 56,106 shares in the company, valued at approximately $9,921,223.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,050 shares of company stock worth $1,225,765. 0.19% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at about $108,000. TrimTabs Asset Management LLC raised its position in shares of Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen during the 2nd quarter valued at about $110,000. Jackson Grant Investment Advisers Inc. raised its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its position in shares of Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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About Amgen

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

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