A number of other research analysts have also commented on AMGN. Cantor Fitzgerald reiterated a neutral rating and set a $230.00 price target (up from $221.00) on shares of Amgen in a report on Thursday, September 5th. BMO Capital Markets restated a buy rating on shares of Amgen in a research note on Monday. William Blair reiterated a hold rating on shares of Amgen in a research note on Friday, August 30th. Cowen set a $231.00 price objective on Amgen and gave the stock a buy rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley dropped their price objective on Amgen from $211.00 to $207.00 and set an overweight rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $217.33.
Shares of Amgen stock traded up $1.92 during trading on Thursday, hitting $195.92. 811,219 shares of the company’s stock were exchanged, compared to its average volume of 2,890,083. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The business has a 50-day simple moving average of $196.19 and a 200-day simple moving average of $185.15. Amgen has a 52-week low of $166.30 and a 52-week high of $211.90. The stock has a market capitalization of $118.06 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.30 and a beta of 1.11.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the previous year, the company earned $3.83 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Amgen will post 14.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 15th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.96%. The ex-dividend date was Wednesday, August 14th. Amgen’s dividend payout ratio is 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total value of $413,400.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at approximately $3,376,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,851 shares of company stock worth $3,659,900. 0.25% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of Amgen during the 2nd quarter worth $30,000. Arbor Wealth Management LLC boosted its holdings in shares of Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after acquiring an additional 102 shares during the period. C J Advisory Inc bought a new position in shares of Amgen in the first quarter worth $40,000. Ashburton Jersey Ltd bought a new position in shares of Amgen in the second quarter worth $42,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Amgen by 402.1% in the second quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after acquiring an additional 189 shares during the period. Institutional investors own 76.28% of the company’s stock.
Amgen Company Profile
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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