Amgen (AMGN) Stock Rating Reaffirmed by Royal Bank of Canada
Royal Bank of Canada reissued their neutral rating on shares of Amgen (NASDAQ:AMGN) in a research report sent to investors on Tuesday morning. The firm currently has a $182.00 price target on the medical research company’s stock.
AMGN has been the subject of several other reports. Zacks Investment Research upgraded Amgen from a hold rating to a buy rating and set a $234.00 target price for the company in a research note on Monday, October 1st. Mizuho reiterated a buy rating and set a $206.00 target price on shares of Amgen in a research note on Friday, October 26th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Amgen in a research note on Thursday, October 25th. BidaskClub upgraded Amgen from a buy rating to a strong-buy rating in a research note on Friday, November 30th. Finally, Leerink Swann set a $209.00 target price on Amgen and gave the company a hold rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $205.68.
Amgen stock opened at $191.44 on Tuesday. The company has a market cap of $126.02 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.41. 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 52 week low of $163.31 and a 52 week high of $210.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be paid a dividend of $1.45 per share. This is a boost from Amgen’s previous quarterly dividend of $1.32. This represents a $5.80 annualized dividend and a yield of 3.03%. Amgen’s dividend payout ratio (DPR) is 41.97%.
In related news, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction on 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 directly owns 23,090 shares in the company, valued at $4,684,499.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Mutual Advisors LLC lifted its stake in Amgen by 5.8% in the second quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock valued at $889,000 after buying an additional 265 shares during the last quarter. Lederer & Associates Investment Counsel CA lifted its stake in Amgen by 2.4% in the third quarter. Lederer & Associates Investment Counsel CA now owns 13,150 shares of the medical research company’s stock valued at $2,726,000 after buying an additional 310 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Amgen by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock valued at $592,025,000 after buying an additional 72,205 shares during the last quarter. Argent Trust Co lifted its stake in Amgen by 31.8% in the second quarter. Argent Trust Co now owns 11,691 shares of the medical research company’s stock valued at $2,159,000 after buying an additional 2,818 shares during the last quarter. Finally, Lau Associates LLC acquired a new position in shares of Amgen during the third quarter valued at $406,000. Institutional investors own 76.94% of the company’s stock.
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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