Traders Buy Shares of Amgen Inc. (AMGN) on Weakness
Traders purchased shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading on Monday. $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 equities tracked, Amgen had the 3rd highest net in-flow for the day. Amgen traded down ($0.36) for the day and closed at $169.77
A number of research analysts recently weighed in on AMGN shares. Vetr lowered shares of Amgen from a “hold” rating to a “sell” rating and set a $166.35 price target on the stock. in a research note on Monday, August 1st. Jefferies Group reaffirmed a “buy” rating and issued a $187.00 price target on shares of Amgen in a research note on Wednesday, July 13th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $193.00 price target on shares of Amgen in a research note on Thursday, July 28th. Leerink Swann reaffirmed a “hold” rating on shares of Amgen in a research note on Sunday, June 26th. Finally, Bank of America Corp. reaffirmed a “hold” rating and issued a $182.00 price target on shares of Amgen in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus 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 stock has a market capitalization of $127.05 billion and a price-to-earnings ratio of 17.37.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period in the prior year, the firm earned $2.57 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post $11.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Wednesday, August 17th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, August 15th.
In related news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other institutional investors recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its position in shares of Amgen by 0.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,247,019 shares of the medical research company’s stock valued at $527,089,000 after buying an additional 11,041 shares during the period. PVG Asset Management bought a new position in shares of Amgen during the fourth quarter valued at approximately $2,712,000. BlackRock Investment Management LLC raised 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 during the period. BlackRock Advisors LLC raised its position in shares of Amgen by 40.1% in the fourth quarter. BlackRock Advisors LLC now owns 3,746,237 shares of the medical research company’s stock valued at $608,126,000 after buying an additional 1,071,485 shares during the period. Finally, Morningstar Investment Services LLC raised its position in shares of Amgen by 19.5% in the fourth quarter. Morningstar Investment Services LLC now owns 65,698 shares of the medical research company’s stock valued at $10,665,000 after buying an additional 10,726 shares during the period.
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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