Amgen Inc. (NASDAQ:AMGN)‘s stock had its “hold” rating reissued by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday.
A number of other equities analysts also recently commented on the company. Robert W. Baird restated an “outperform” rating and set a $157.00 target price on shares of Amgen in a report on Friday, August 26th. Jefferies Group restated a “buy” rating and set a $198.00 target price on shares of Amgen in a report on Tuesday, August 23rd. Gabelli initiated coverage on Amgen in a report on Friday, August 26th. They set a “hold” rating for the company. BMO Capital Markets restated an “outperform” rating and set a $190.00 target price on shares of Amgen in a report on Thursday, September 22nd. Finally, Morgan Stanley restated an “overweight” rating and set a $198.00 target price (down previously from $199.00) on shares of Amgen in a report on Friday, August 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Amgen has an average rating of “Buy” and an average target price of $185.06.
Amgen (NASDAQ:AMGN) opened at 165.45 on Wednesday. Amgen has a 12-month low of $135.64 and a 12-month high of $176.85. The firm’s 50-day moving average is $171.84 and its 200-day moving average is $160.86. The stock has a market capitalization of $123.82 billion, a P/E ratio of 16.93 and a beta of 0.87.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 29.30% and a net margin of 33.07%. The business’s quarterly 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 earnings per share. Analysts predict that Amgen will post $11.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio (DPR) is presently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Amgen by 1.5% in the second quarter. Vanguard Group Inc. now owns 46,679,076 shares of the medical research company’s stock valued at $7,102,222,000 after buying an additional 673,247 shares during the period. FMR LLC increased its stake in shares of 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 during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Amgen by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 20,435,310 shares of the medical research company’s stock valued at $3,109,232,000 after buying an additional 271,591 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Amgen by 1.1% in the second quarter. BlackRock Fund Advisors now owns 12,971,828 shares of the medical research company’s stock valued at $1,973,664,000 after buying an additional 138,912 shares during the period. 79.15% of the stock is currently 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).
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.