Amgen’s (AMGN) Buy Rating Reaffirmed at Jefferies Group
Jefferies Group reiterated their buy rating on shares of Amgen Inc. (NASDAQ:AMGN) in a research note published on Tuesday. The brokerage currently has a $198.00 price target on the medical research company’s stock.
Several other analysts also recently weighed in on AMGN. Credit Suisse Group AG set a $206.00 target price on Amgen and gave the stock a buy rating in a research report on Saturday. Leerink Swann reiterated a hold rating on shares of Amgen in a research report on Saturday. Vetr upgraded Amgen from a sell rating to a hold rating and set a $171.34 price objective for the company in a report on Wednesday, August 3rd. Robert W. Baird restated an outperform rating and issued a $157.00 price objective on shares of Amgen in a report on Friday, August 26th. Finally, Citigroup Inc. lifted their price objective on Amgen from $165.00 to $175.00 and gave the company a neutral rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $184.87.
Shares of Amgen (NASDAQ:AMGN) opened at 173.7225 on Tuesday. Amgen has a 12 month low of $130.09 and a 12 month high of $176.64. The stock has a market capitalization of $130.01 billion, a P/E ratio of 17.7776 and a beta of 0.87. The company’s 50-day moving average is $171.98 and its 200 day moving average is $159.67.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the company earned $2.57 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts predict that Amgen will post $11.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, August 15th. Amgen’s payout ratio is presently 40.90%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oak Associates Ltd. OH increased its position in shares of Amgen by 0.3% in the first quarter. Oak Associates Ltd. OH now owns 210,710 shares of the medical research company’s stock valued at $31,592,000 after buying an additional 581 shares during the last quarter. National Pension Service increased its position in shares of Amgen by 4.2% in the first quarter. National Pension Service now owns 378,322 shares of the medical research company’s stock valued at $56,722,000 after buying an additional 15,376 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amgen by 2.1% in the first quarter. Geode Capital Management LLC now owns 6,444,273 shares of the medical research company’s stock valued at $964,334,000 after buying an additional 132,632 shares during the last quarter. Prudential PLC increased its position in shares of Amgen by 41.4% in the first quarter. Prudential PLC now owns 1,062,893 shares of the medical research company’s stock valued at $159,359,000 after buying an additional 311,157 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Amgen by 1.0% in the first quarter. Legal & General Group Plc now owns 3,263,086 shares of the medical research company’s stock valued at $489,239,000 after buying an additional 32,086 shares during the last quarter. 79.15% of the stock is owned by 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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