Amgen Inc. (AMGN) PT Raised to $195.00
Amgen Inc. (NASDAQ:AMGN) had its target price lifted by Argus from $180.00 to $195.00 in a research note published on Thursday morning. Argus currently has a buy rating on the medical research company’s stock.
Several other equities research analysts have also recently commented on the company. Jefferies Group LLC cut Amgen from a buy rating to a hold rating and decreased their target price for the stock from $194.00 to $180.00 in a research note on Wednesday, April 5th. Credit Suisse Group reaffirmed a hold rating and set a $178.00 target price on shares of Amgen in a research note on Tuesday, April 4th. Cowen and Company reaffirmed an outperform rating and set a $209.00 target price on shares of Amgen in a research note on Wednesday, April 19th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $189.00 target price on shares of Amgen in a research note on Friday, June 30th. Finally, BidaskClub raised Amgen from a buy rating to a strong-buy rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Amgen has a consensus rating of Buy and an average target price of $186.64.
Shares of Amgen (NASDAQ:AMGN) traded up 0.95% during mid-day trading on Thursday, reaching $176.19. The company had a trading volume of 827,962 shares. The company has a market cap of $128.56 billion, a price-to-earnings ratio of 16.05 and a beta of 1.35. Amgen has a 52-week low of $133.64 and a 52-week high of $184.21. The firm’s 50-day moving average price is $172.48 and its 200 day moving average price is $166.30.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period last year, the company earned $2.84 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Amgen will post $12.57 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.64%. Amgen’s dividend payout ratio (DPR) is currently 41.93%.
In related news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now directly owns 24,214 shares in the company, valued at $3,738,641.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of AMGN. Jackson Grant Investment Advisers Inc. raised its stake in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock worth $190,000 after buying an additional 7 shares during the period. Investment Partners Ltd. OH ADV raised its stake in shares of Amgen by 0.5% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,192 shares of the medical research company’s stock worth $377,000 after buying an additional 11 shares during the period. Conservest Capital Advisors Inc. raised its stake in shares of Amgen by 0.4% in the second quarter. Conservest Capital Advisors Inc. now owns 3,130 shares of the medical research company’s stock worth $539,000 after buying an additional 13 shares during the period. Finally, Arvest Bank Trust Division raised its stake in shares of Amgen by 0.9% in the second quarter. Arvest Bank Trust Division now owns 1,508 shares of the medical research company’s stock worth $260,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 78.82% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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