Amgen Inc. (NASDAQ:AMGN) had its price objective reduced by Citigroup Inc. from $175.00 to $172.00 in a report released on Wednesday morning. Citigroup Inc. currently has a neutral rating on the medical research company’s stock.
Other analysts also recently issued reports about the company. Leerink Swann restated a hold rating on shares of Amgen in a research note on Saturday, September 17th. Credit Suisse Group AG set a $206.00 price target on shares of Amgen and gave the company a buy rating in a research report on Saturday, September 17th. Vetr raised shares of Amgen from a hold rating to a buy rating and set a $159.50 price target on the stock in a research report on Monday, June 13th. Jefferies Group reaffirmed a buy rating and issued a $187.00 price target on shares of Amgen in a research report on Wednesday, July 13th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $157.00 price target on shares of Amgen in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Amgen has an average rating of Buy and a consensus price target of $185.06.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $2.57 EPS.
The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio is currently 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Amgen during the second quarter valued at $383,036,000. Wellington Management Group LLP increased its stake in Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock valued at $2,030,789,000 after buying an additional 1,864,688 shares in the last quarter. Nordea Investment Management AB increased its stake in Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock valued at $870,171,000 after buying an additional 1,547,099 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Amgen during the second quarter valued at $194,466,000. Finally, FMR LLC increased its stake in Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock valued at $4,927,672,000 after buying an additional 1,259,875 shares in the last quarter. 79.15% of the stock is owned by institutional investors.
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).
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