Traders Sell Amgen Inc. (AMGN) on Strength (AMGN)
Investors sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading on Thursday. $196.23 million flowed into the stock on the tick-up and $230.71 million flowed out of the stock on the tick-down, for a money net flow of $34.48 million out of the stock. Of all companies tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $0.60 for the day and closed at $171.28
Several research firms recently weighed in on AMGN. Jefferies Group upped their price target on shares of Amgen from $187.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research report on Wednesday, June 29th. Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $159.50 price target for the company in a research report on Monday, June 13th. Morgan Stanley restated a “buy” rating and set a $195.00 price target on shares of Amgen in a research report on Friday, April 29th. Finally, Leerink Swann restated a “hold” rating on shares of Amgen in a research report on Sunday, June 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $184.67.
The stock has a market cap of $128.85 billion and a price-to-earnings ratio of 17.60. The firm’s 50 day moving average price is $157.61 and its 200 day moving average price is $153.57.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post $11.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.33%.
In related news, EVP Madhavan Balachandran sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $154.12, for a total value of $4,623,600.00. Following the completion of the sale, the executive vice president now directly owns 23,097 shares in the company, valued at $3,559,709.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of large investors recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new stake in Amgen during the fourth quarter worth about $1,099,000. Sfmg LLC increased its stake in Amgen by 3.1% in the fourth quarter. Sfmg LLC now owns 7,098 shares of the medical research company’s stock worth $1,152,000 after buying an additional 215 shares during the last quarter. Garcia Hamilton & Associates LP DE increased its stake in Amgen by 1.6% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 7,232 shares of the medical research company’s stock worth $1,174,000 after buying an additional 114 shares during the last quarter. Physicians Financial Services Inc. bought a new stake in Amgen during the fourth quarter worth about $1,254,000. Finally, Barrett Asset Management LLC increased its stake in Amgen by 0.3% in the fourth quarter. Barrett Asset Management LLC now owns 8,218 shares of the medical research company’s stock worth $1,334,000 after buying an additional 25 shares during 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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