Investors Buy Amgen (AMGN) on Weakness
Investors bought shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading on Tuesday. $155.79 million flowed into the stock on the tick-up and $65.62 million flowed out of the stock on the tick-down, for a money net flow of $90.17 million into the stock. Of all companies tracked, Amgen had the 14th highest net in-flow for the day. Amgen traded down ($0.75) for the day and closed at $206.46
A number of equities research analysts have recently issued reports on AMGN shares. Cann reaffirmed a “buy” rating on shares of Amgen in a report on Friday, June 8th. BidaskClub raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Mizuho reaffirmed a “buy” rating and issued a $200.00 target price on shares of Amgen in a report on Friday, June 22nd. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a report on Tuesday, June 26th. Finally, Morgan Stanley upped their target price on shares of Amgen from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $203.03.
The firm has a market cap of $133.64 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.01 and a beta of 1.39. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.55%. Amgen’s payout ratio is presently 41.97%.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $195.71, for a total transaction of $298,457.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Large investors have recently made changes to their positions in the business. Financial Gravity Wealth Inc. acquired a new stake in shares of Amgen during the 1st quarter worth approximately $579,000. Oppenheimer Asset Management Inc. boosted its position in shares of Amgen by 5.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 40,661 shares of the medical research company’s stock worth $6,933,000 after acquiring an additional 2,246 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Amgen by 3.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 643,449 shares of the medical research company’s stock worth $109,699,000 after acquiring an additional 18,702 shares in the last quarter. Northwest Bancshares Inc. boosted its position in shares of Amgen by 6.6% during the 1st quarter. Northwest Bancshares Inc. now owns 11,631 shares of the medical research company’s stock worth $1,983,000 after acquiring an additional 718 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Amgen by 21.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 41,722 shares of the medical research company’s stock worth $7,114,000 after acquiring an additional 7,348 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Amgen Company Profile (NASDAQ:AMGN)
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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