Investors Sell Shares of Amgen Inc. (AMGN) on Strength (AMGN)
Traders sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading hours on Thursday. $61.42 million flowed into the stock on the tick-up and $86.05 million flowed out of the stock on the tick-down, for a money net flow of $24.63 million out of the stock. Of all companies tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $0.94 for the day and closed at $164.19
A number of equities analysts have issued reports on AMGN shares. Morgan Stanley raised their target price on shares of Amgen from $193.00 to $195.00 in a report on Friday, April 8th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Amgen in a report on Saturday, April 30th. BMO Capital Markets reaffirmed a “buy” rating and set a $186.00 price target (up previously from $183.00) on shares of Amgen in a report on Saturday, April 30th. Cowen and Company reaffirmed a “buy” rating on shares of Amgen in a report on Sunday, April 17th. Finally, Vetr raised Amgen from a “hold” rating to a “buy” rating and set a $168.64 price target on the stock in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $181.19.
The stock’s 50 day moving average is $156.03 and its 200-day moving average is $152.98. The firm has a market capitalization of $124.45 billion and a price-to-earnings ratio of 17.53.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 28th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.30. The firm earned $5.53 billion during the quarter, compared to analyst estimates of $5.32 billion. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 EPS. On average, equities research analysts forecast that Amgen Inc. will post $11.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.41%.
In other news, EVP Madhavan Balachandran sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $154.12, for a total transaction of $4,623,600.00. Following the completion of the sale, the executive vice president now owns 23,097 shares in the company, valued at approximately $3,559,709.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sean E. Harper sold 21,875 shares of the firm’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $157.99, for a total transaction of $3,456,031.25. Following the sale, the executive vice president now owns 42,248 shares of the company’s stock, valued at approximately $6,674,761.52. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of AMGN. Cadence Capital Management LLC boosted its stake in Amgen by 1,331.8% in the fourth quarter. Cadence Capital Management LLC now owns 86,226 shares of the medical research company’s stock worth $13,997,000 after buying an additional 80,204 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in Amgen by 29.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 218,200 shares of the medical research company’s stock worth $35,420,000 after buying an additional 50,250 shares in the last quarter. Telos Capital Management Inc. bought a new stake in Amgen during the fourth quarter worth about $1,892,000. Community Bank N.A. boosted its stake in Amgen by 1.5% in the fourth quarter. Community Bank N.A. now owns 6,850 shares of the medical research company’s stock worth $1,112,000 after buying an additional 100 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its stake in Amgen by 13.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 14,735 shares of the medical research company’s stock worth $2,392,000 after buying an additional 1,783 shares in the last quarter.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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