BMO Capital Markets lowered shares of Amgen Inc. (NASDAQ:AMGN) from an outperform rating to a market perform rating in a research note released on Wednesday morning, The Fly reports.

Other research analysts have also recently issued research reports about the stock. Mizuho set a $195.00 target price on shares of Amgen and gave the stock a buy rating in a report on Saturday, May 6th. UBS AG restated a neutral rating and issued a $174.00 target price (down previously from $175.00) on shares of Amgen in a report on Monday, May 22nd. Cowen and Company restated an outperform rating and issued a $209.00 target price on shares of Amgen in a report on Wednesday, April 19th. Morgan Stanley raised their price target on Amgen from $183.00 to $184.00 and gave the stock an overweight rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $195.00 price target on shares of Amgen in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $186.64.

Amgen (AMGN) opened at 174.54 on Wednesday. Amgen has a 12 month low of $133.64 and a 12 month high of $184.21. The firm has a market cap of $127.36 billion, a P/E ratio of 15.90 and a beta of 1.36. The stock has a 50 day moving average of $172.48 and a 200-day moving average of $166.30.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The firm had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the business earned $2.84 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Amgen will post $12.57 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.64%. Amgen’s dividend payout ratio (DPR) is 41.93%.

In other news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Round Hill Asset Management purchased a new stake in shares of Amgen during the fourth quarter valued at about $9,918,000. Cigna Investments Inc. New bought a new position in Amgen during the fourth quarter valued at $6,297,000. L & S Advisors Inc bought a new position in Amgen during the fourth quarter valued at $209,000. Congress Asset Management Co. MA bought a new position in Amgen during the fourth quarter valued at $5,157,000. Finally, Denver Investment Advisors LLC increased its position in Amgen by 0.3% in the fourth quarter. Denver Investment Advisors LLC now owns 103,872 shares of the medical research company’s stock valued at $15,187,000 after buying an additional 348 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors and hedge funds.

About Amgen

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).

The Fly

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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