Vetr upgraded shares of Amgen Inc. (NASDAQ:AMGN) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning. They currently have $188.11 price target on the medical research company’s stock.
Other research analysts have also recently issued reports about the stock. Leerink Swann reaffirmed a hold rating on shares of Amgen in a report on Saturday, September 17th. Credit Suisse Group AG set a $206.00 target price on shares of Amgen and gave the stock a buy rating in a report on Saturday, September 17th. Jefferies Group reaffirmed a buy rating and set a $187.00 target price on shares of Amgen in a report on Wednesday, July 13th. Robert W. Baird reissued a neutral rating and issued a $157.00 price objective on shares of Amgen in a research note on Friday, July 15th. Finally, Morgan Stanley lifted their price objective on shares of Amgen from $198.00 to $199.00 and gave the company an overweight rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $185.06.
Shares of Amgen (NASDAQ:AMGN) opened at 167.34 on Thursday. The firm’s 50 day moving average is $171.51 and its 200 day moving average is $161.44. The company has a market cap of $125.23 billion, a PE ratio of 17.12 and a beta of 0.94. Amgen has a 12 month low of $138.06 and a 12 month high of $176.85.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The company had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same period last year, the firm earned $2.57 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts predict that Amgen will post $11.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.39%. Amgen’s dividend payout ratio (DPR) is presently 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its position in Amgen by 59.9% in the first quarter. Raymond James Trust N.A. now owns 28,653 shares of the medical research company’s stock valued at $4,296,000 after buying an additional 10,739 shares during the last quarter. Narwhal Capital Management raised its position in Amgen by 2.5% in the first quarter. Narwhal Capital Management now owns 10,245 shares of the medical research company’s stock valued at $1,536,000 after buying an additional 250 shares during the last quarter. Carl Domino Inc raised its position in Amgen by 483.9% in the first quarter. Carl Domino Inc now owns 9,062 shares of the medical research company’s stock valued at $1,359,000 after buying an additional 7,510 shares during the last quarter. Kelman Lazarov Inc. purchased a new position in Amgen during the first quarter valued at about $252,000. Finally, FirstMerit Bank N A Trustee raised its position in Amgen by 5.3% in the first quarter. FirstMerit Bank N A Trustee now owns 32,630 shares of the medical research company’s stock valued at $4,893,000 after buying an additional 1,632 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
To view Vetr’s full report, visit Vetr’s official website.
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