Amgen Inc. (AMGN) Rating Reiterated by JPMorgan Chase & Co.
Other equities research analysts have also issued research reports about the stock. Leerink Swann reiterated a hold rating on shares of Amgen in a research note on Saturday, September 17th. Credit Suisse Group AG set a $206.00 price objective on shares of Amgen and gave the stock a buy rating in a research note on Saturday, September 17th. Vetr upgraded shares of Amgen from a hold rating to a buy rating and set a $159.50 price objective on the stock in a research note on Monday, June 13th. Jefferies Group reiterated a buy rating and set a $187.00 price objective on shares of Amgen in a research note on Wednesday, July 13th. Finally, Robert W. Baird reiterated a neutral rating and set a $157.00 price objective on shares of Amgen in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Amgen has an average rating of Buy and a consensus target price of $185.06.
Shares of Amgen (NASDAQ:AMGN) opened at 167.34 on Wednesday. Amgen has a 52-week low of $138.06 and a 52-week high of $176.85. The stock’s 50 day moving average is $171.51 and its 200-day moving average is $161.44. The firm has a market capitalization of $125.23 billion, a P/E ratio of 17.12 and a beta of 0.94.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. Amgen’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. On average, equities analysts forecast that Amgen will post $11.36 earnings per share for the current fiscal 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 dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Monday, August 15th. Amgen’s payout ratio is 40.90%.
In related 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in shares of Amgen by 0.6% in the first quarter. Acadian Asset Management LLC now owns 8,268 shares of the medical research company’s stock worth $1,239,000 after buying an additional 51 shares during the last quarter. Jacobs & Co. CA increased its stake in shares of Amgen by 1.0% in the first quarter. Jacobs & Co. CA now owns 35,513 shares of the medical research company’s stock valued at $5,324,000 after buying an additional 356 shares during the period. Cue Financial Group Inc. increased its stake in shares of Amgen by 24.7% in the first quarter. Cue Financial Group Inc. now owns 6,922 shares of the medical research company’s stock valued at $1,038,000 after buying an additional 1,370 shares during the period. Mission Wealth Management LLC increased its stake in shares of Amgen by 1.2% in the first quarter. Mission Wealth Management LLC now owns 17,135 shares of the medical research company’s stock valued at $2,569,000 after buying an additional 203 shares during the period. Finally, M. Kraus & Co increased its stake in shares of Amgen by 1.6% in the first quarter. M. Kraus & Co now owns 2,629 shares of the medical research company’s stock valued at $420,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.
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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