Other analysts have also issued research reports about the company. Cann reissued a buy rating and set a $203.00 price target on shares of Amgen in a report on Friday, October 6th. Bank of America boosted their price objective on Amgen to $210.00 and gave the company a buy rating in a research report on Thursday, October 5th. Oppenheimer restated a buy rating and issued a $203.00 price objective on shares of Amgen in a research report on Friday, October 6th. Mizuho restated a buy rating and issued a $198.00 price objective on shares of Amgen in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded Amgen from a hold rating to a buy rating and set a $199.00 price objective on the stock in a research report on Friday, October 27th. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $191.49.
Shares of Amgen (NASDAQ AMGN) opened at $174.75 on Friday. Amgen has a fifty-two week low of $152.16 and a fifty-two week high of $201.23. The company has a current ratio of 5.49, a quick ratio of 5.17 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $126,850.00, a PE ratio of 67.73, a price-to-earnings-growth ratio of 2.69 and a beta of 1.42.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm posted $2.89 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. equities research analysts expect that Amgen will post 12.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, February 14th. Amgen’s payout ratio is currently 178.29%.
Amgen announced that its board has approved a share repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total transaction of $283,070.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold 8,575 shares of company stock worth $1,508,836 over the last quarter. 0.19% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Welch Group LLC purchased a new stake in Amgen during the second quarter valued at approximately $639,000. DekaBank Deutsche Girozentrale raised its position in Amgen by 2.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after purchasing an additional 24,219 shares during the period. Pacer Advisors Inc. raised its position in Amgen by 10.3% during the second quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after purchasing an additional 2,362 shares during the period. Wesbanco Bank Inc. raised its position in Amgen by 6.5% during the second quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock valued at $18,393,000 after purchasing an additional 6,492 shares during the period. Finally, Coho Partners Ltd. raised its position in Amgen by 25.8% during the second quarter. Coho Partners Ltd. now owns 1,034,651 shares of the medical research company’s stock valued at $178,198,000 after purchasing an additional 212,213 shares during the period. Institutional investors and hedge funds own 78.59% of the company’s stock.
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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