Shares of Amgen (NASDAQ:AMGN) have earned an average recommendation of “Hold” from the twenty-seven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $193.19.
A number of equities analysts have recently weighed in on the stock. Argus raised shares of Amgen from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.33 to $220.00 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $189.00 price target on shares of Amgen in a research note on Wednesday, January 24th. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target on the stock. in a research note on Tuesday, March 6th. Finally, Morgan Stanley dropped their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd.
Get Amgen alerts:In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 4,575 shares of company stock worth $818,208 over the last three months. Company insiders own 0.27% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC increased its position in Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock worth $113,000 after buying an additional 340 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in Amgen during the first quarter valued at about $113,000. Taylor Hoffman Wealth Management bought a new stake in Amgen during the fourth quarter valued at about $127,000. Cornerstone Advisors Inc. boosted its holdings in Amgen by 76.5% during the first quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 316 shares during the period. Finally, Horan Capital Advisors LLC. bought a new stake in Amgen during the third quarter valued at about $150,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMGN traded up $1.58 during mid-day trading on Friday, reaching $179.94. The company’s stock had a trading volume of 2,241,956 shares, compared to its average volume of 4,497,541. The firm has a market capitalization of $116.77 billion, a P/E ratio of 14.30, a PEG ratio of 2.18 and a beta of 1.36. Amgen has a 1 year low of $153.56 and a 1 year high of $201.23. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.15 earnings per share. analysts expect that Amgen will post 13.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s payout ratio is 41.97%.
Amgen declared that its board has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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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