Amgen Inc. (AMGN) Stock Rating Reaffirmed by BMO Capital Markets
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “outperform” rating reiterated by research analysts at BMO Capital Markets in a research note issued on Thursday. They presently have a $190.00 target price on the medical research company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 8.19% from the stock’s current price.
Several other equities analysts have also recently commented on AMGN. Vetr cut shares of Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 target price for the company. in a research note on Monday, May 30th. Bank of America Corp. restated a “hold” rating and issued a $182.00 price objective on shares of Amgen in a research note on Wednesday, June 8th. Leerink Swann restated a “market perform” rating and issued a $186.00 price objective on shares of Amgen in a research note on Thursday, June 9th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $202.00 price objective on shares of Amgen in a research note on Wednesday, June 15th. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Wednesday, June 29th. They issued a “market perform” rating and a $161.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $184.87.
Shares of Amgen (NASDAQ:AMGN) traded up 1.02% during mid-day trading on Thursday, hitting $175.62. 2,329,992 shares of the stock were exchanged. The firm has a market cap of $131.43 billion, a price-to-earnings ratio of 17.97 and a beta of 0.87. Amgen has a 1-year low of $130.09 and a 1-year high of $176.64. The company’s 50-day moving average is $171.97 and its 200-day moving average is $159.77.
Amgen (NASDAQ:AMGN) last released its earnings results 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 firm earned $5.69 billion during 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 quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Equities research analysts anticipate that Amgen will post $11.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 annualized dividend and a yield of 2.28%. Amgen’s dividend payout ratio (DPR) is currently 40.90%.
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 shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Integrated Wealth Management increased its stake in 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 during the period. Goelzer Investment Management Inc. boosted its position in Amgen by 0.3% in the second quarter. Goelzer Investment Management Inc. now owns 1,604 shares of the medical research company’s stock valued at $244,000 after buying an additional 5 shares in the last quarter. Nadler Financial Group Inc. boosted its position in Amgen by 0.3% in the second quarter. Nadler Financial Group Inc. now owns 2,111 shares of the medical research company’s stock valued at $321,000 after buying an additional 6 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,078 shares of the medical research company’s stock valued at $164,000 after buying an additional 6 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Amgen by 0.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,463 shares of the medical research company’s stock valued at $223,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.
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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