Amgen Inc. (AMGN) Rating Reiterated by Cowen and Company
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a report released on Monday.
AMGN has been the topic of several other research reports. Robert W. Baird reiterated an “outperform” rating and issued a $157.00 price objective on shares of Amgen in a research note on Friday, August 26th. Jefferies Group reiterated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research note on Tuesday, August 23rd. Gabelli started coverage on shares of Amgen in a research note on Friday, August 26th. They issued a “hold” rating on the stock. Leerink Swann reiterated a “hold” rating on shares of Amgen in a research note on Sunday, June 26th. Finally, Vetr cut shares of Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 price objective on the stock. in a research note on Monday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $184.87.
Shares of Amgen (NASDAQ:AMGN) opened at 173.38 on Monday. The company has a market capitalization of $129.75 billion, a price-to-earnings ratio of 17.74 and a beta of 0.87. The firm’s 50-day moving average is $171.98 and its 200 day moving average is $159.67. Amgen has a 12 month low of $130.09 and a 12 month high of $176.64.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The business’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 EPS. Equities analysts expect that Amgen will post $11.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, August 15th. Amgen’s dividend payout ratio (DPR) is presently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oakworth Capital Inc. raised its position in Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock worth $111,000 after buying an additional 100 shares during the period. Valley National Advisers Inc. increased its stake in shares of Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock worth $109,000 after buying an additional 33 shares in the last quarter. Glassman Wealth Services increased its stake in shares of Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock worth $110,000 after buying an additional 600 shares in the last quarter. Integrated Wealth Management increased its stake in shares of Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its stake in shares of Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock worth $155,000 after buying an additional 85 shares in the last quarter. 79.18% of the stock is owned by hedge funds and other institutional investors.
Amgen Company Profile
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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