Amgen Inc. (AMGN) Sees Unusually-High Trading Volume
Shares of Amgen Inc. (NASDAQ:AMGN) saw unusually-strong trading volume on Tuesday . Approximately 6,935,957 shares changed hands during trading, an increase of 112% from the previous session’s volume of 3,272,140 shares.The stock last traded at $174.15 and had previously closed at $174.16.
A number of research analysts have commented on AMGN shares. Morgan Stanley raised their price target on shares of Amgen from $193.00 to $195.00 in a research note on Friday, April 8th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Tuesday, May 3rd. Piper Jaffray Cos. restated a “buy” rating on shares of Amgen in a research note on Saturday, April 30th. BMO Capital Markets restated a “buy” rating and set a $186.00 price target (up previously from $183.00) on shares of Amgen in a research note on Saturday, April 30th. Finally, Cowen and Company restated a “buy” rating on shares of Amgen in a research note on Sunday, April 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $184.70.
The firm has a 50-day moving average price of $158.76 and a 200 day moving average price of $153.97. The stock has a market cap of $130.33 billion and a P/E ratio of 17.82.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. Amgen’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 EPS. Equities analysts anticipate that Amgen Inc. will post $11.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Monday, August 15th.
In other Amgen news, EVP Madhavan Balachandran sold 30,000 shares of the company’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 transaction, the executive vice president now directly owns 23,097 shares in the company, valued at approximately $3,559,709.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
A number of institutional investors have made changes to their positions in the stock. Freestone Capital Holdings LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $1,099,000. Sfmg LLC boosted 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 valued at $1,152,000 after buying an additional 215 shares during the period. Garcia Hamilton & Associates LP DE boosted 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 valued at $1,174,000 after buying an additional 114 shares during the period. Physicians Financial Services Inc. purchased a new stake in Amgen during the fourth quarter valued at $1,254,000. Finally, CG Asset Management LLC purchased a new stake in Amgen during the fourth quarter valued at $1,514,000.
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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