Investors Buy Amgen Inc. (AMGN) on Weakness
Investors bought shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading on Friday. $123.34 million flowed into the stock on the tick-up and $69.06 million flowed out of the stock on the tick-down, for a money net flow of $54.28 million into the stock. Of all stocks tracked, Amgen had the 4th highest net in-flow for the day. Amgen traded down ($0.36) for the day and closed at $169.77
Several equities research analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating and set a $198.00 target price on shares of Amgen in a research note on Tuesday, August 23rd. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 target price on the stock in a research note on Wednesday, August 3rd. Argus reaffirmed a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Amgen in a research note on Friday, August 5th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $198.00 price target (down previously from $199.00) on shares of Amgen in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $185.15.
The stock has a 50-day moving average of $170.63 and a 200-day moving average of $157.58. The company has a market capitalization of $127.05 billion and a PE ratio of 17.37.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the Zacks’ 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. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. Equities research analysts anticipate that Amgen Inc. will post $11.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.36%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and institutional investors have modified their holdings of the company. TrimTabs Asset Management LLC increased its position in shares of Amgen by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 14,887 shares of the medical research company’s stock valued at $2,417,000 after buying an additional 274 shares in the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Amgen by 0.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 19,224 shares of the medical research company’s stock valued at $3,121,000 after buying an additional 180 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Amgen by 287.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,083 shares of the medical research company’s stock valued at $2,449,000 after buying an additional 11,188 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Amgen by 3.7% in the fourth quarter. BlackRock Investment Management LLC now owns 2,492,571 shares of the medical research company’s stock valued at $404,619,000 after buying an additional 87,862 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its position in shares of Amgen by 54.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 15,535 shares of the medical research company’s stock valued at $2,522,000 after buying an additional 5,460 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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