Amgen (AMGN) Given “Buy” Rating at Goldman Sachs Group
Goldman Sachs Group restated their buy rating on shares of Amgen (NASDAQ:AMGN) in a research note released on Tuesday morning. They currently have a $232.00 target price on the medical research company’s stock.
Several other research firms also recently commented on AMGN. Cann reiterated a buy rating and issued a $224.00 price objective on shares of Amgen in a report on Monday, October 1st. Jefferies Financial Group reiterated a buy rating and issued a $220.00 price objective on shares of Amgen in a report on Monday, October 1st. Oppenheimer reiterated a buy rating and issued a $224.00 price objective on shares of Amgen in a report on Tuesday, October 2nd. Royal Bank of Canada set a $193.00 price objective on Amgen and gave the stock a neutral rating in a report on Friday, September 28th. Finally, Zacks Investment Research upgraded Amgen from a hold rating to a buy rating and set a $234.00 price objective on the stock in a report on Monday, October 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $205.68.
Shares of AMGN stock opened at $191.44 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84. Amgen has a 12-month low of $163.31 and a 12-month high of $210.19. The stock has a market cap of $126.02 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.05 and a beta of 1.41.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 3.03%. This is an increase from Amgen’s previous quarterly dividend of $1.32. Amgen’s payout ratio is currently 41.97%.
In related news, SVP Cynthia M. Patton sold 1,777 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $202.88, for a total transaction of $360,517.76. Following the transaction, the senior vice president now owns 23,090 shares in the company, valued at approximately $4,684,499.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Kwmg LLC purchased a new position in Amgen during the 2nd quarter valued at about $108,000. Mainstay Capital Management LLC ADV purchased a new position in Amgen during the 2nd quarter valued at about $111,000. Polaris Greystone Financial Group LLC purchased a new position in Amgen during the 3rd quarter valued at about $166,000. Family Firm Inc. bought a new stake in Amgen during the 2nd quarter valued at approximately $202,000. Finally, Wellington Shields Capital Management LLC bought a new stake in Amgen during the 3rd quarter valued at approximately $202,000. Institutional investors own 76.94% 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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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