Goldman Sachs Group Inc. reiterated their buy rating on shares of Amgen Inc. (NASDAQ:AMGN) in a report released on Tuesday morning. Goldman Sachs Group Inc. currently has a $206.00 target price on the medical research company’s stock, up from their previous target price of $204.00.
AMGN has been the subject of a number of other research reports. Jefferies Group increased their target price on shares of Amgen from $187.00 to $198.00 and gave the company a buy rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of Amgen from a hold rating to a buy rating and set a $166.00 price objective for the company in a research report on Wednesday, June 29th. Vetr upgraded shares of Amgen from a hold rating to a buy rating and set a $159.50 price objective for the company in a research report on Monday, June 13th. Leerink Swann restated a hold rating on shares of Amgen in a research report on Sunday, June 26th. Finally, Argus restated a buy rating and set a $195.00 price objective (up previously from $185.00) on shares of Amgen in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $184.66.
Shares of Amgen (NASDAQ:AMGN) traded down 0.52% during mid-day trading on Tuesday, hitting $170.74. 221,956 shares of the company traded hands. The firm has a market cap of $127.77 billion, a price-to-earnings ratio of 17.47 and a beta of 0.87. The firm has a 50-day moving average price of $172.07 and a 200 day moving average price of $160.76. Amgen has a 52-week low of $135.64 and a 52-week high of $176.85.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. Amgen’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.57 EPS. Equities research analysts anticipate that Amgen will post $11.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were paid a $1.00 dividend. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.33%. Amgen’s payout ratio is 40.90%.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Oak Associates Ltd. OH boosted its position in shares of Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock valued at $31,592,000 after buying an additional 581 shares during the period. National Pension Service boosted its position in shares of Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock valued at $56,722,000 after buying an additional 15,376 shares during the period. Geode Capital Management LLC boosted its position in shares of Amgen by 2.1% in the first quarter. Geode Capital Management LLC now owns 6,444,273 shares of the medical research company’s stock valued at $964,334,000 after buying an additional 132,632 shares during the period. Prudential PLC boosted its position in shares of Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock valued at $159,359,000 after buying an additional 311,157 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Amgen by 1.0% in the first quarter. Legal & General Group Plc now owns 3,263,086 shares of the medical research company’s stock valued at $489,239,000 after buying an additional 32,086 shares during the period. 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).
Receive News & Ratings for Amgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.