Traders Sell Amgen Inc. (AMGN) on Strength (AMGN)
Traders sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading hours on Wednesday. $102.02 million flowed into the stock on the tick-up and $203.00 million flowed out of the stock on the tick-down, for a money net flow of $100.98 million out of the stock. Of all equities tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $1.78 for the day and closed at $156.05
AMGN has been the subject of several analyst reports. Morgan Stanley upped their target price on Amgen from $193.00 to $195.00 in a report on Friday, April 8th. Cowen and Company reaffirmed a “buy” rating on shares of Amgen in a report on Sunday, April 17th. Vetr downgraded Amgen from a “strong-buy” rating to a “buy” rating and set a $159.22 target price for the company. in a report on Monday, March 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $190.00 target price on shares of Amgen in a report on Wednesday, March 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $186.00 target price (up from $183.00) on shares of Amgen in a report on Saturday, April 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Amgen currently has a consensus rating of “Buy” and an average price target of $182.34.
The company has a 50 day moving average price of $153.28 and a 200 day moving average price of $152.77. The stock has a market capitalization of $117.23 billion and a P/E ratio of 16.51.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, April 28th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.30. The firm earned $5.53 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Amgen Inc. will post $11.18 earnings per share for the current fiscal year.
In related news, Director David Baltimore sold 3,312 shares of Amgen stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $157.21, for a total value of $520,679.52. Following the sale, the director now owns 32,350 shares of the company’s stock, valued at $5,085,743.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Madhavan Balachandran sold 30,000 shares of Amgen stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $154.12, for a total value of $4,623,600.00. Following the completion of the sale, the executive vice president now directly owns 23,097 shares in the company, valued at approximately $3,559,709.64. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in the stock. Smith Asset Management Group LP increased its stake in Amgen by 64,460.0% in the fourth quarter. Smith Asset Management Group LP now owns 6,456 shares of the medical research company’s stock worth $1,048,000 after buying an additional 6,446 shares in the last quarter. Freestone Capital Holdings LLC bought a new stake in Amgen during the fourth quarter worth about $1,099,000. Community Bank N.A. increased its stake in Amgen by 1.5% in the fourth quarter. Community Bank N.A. now owns 6,850 shares of the medical research company’s stock worth $1,112,000 after buying an additional 100 shares in the last quarter. Sfmg LLC increased its stake in Amgen by 3.1% in the fourth quarter. Sfmg LLC now owns 7,098 shares of the medical research company’s stock worth $1,152,000 after buying an additional 215 shares in the last quarter. Finally, Garcia Hamilton & Associates LP DE increased its stake in Amgen by 1.6% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 7,232 shares of the medical research company’s stock worth $1,174,000 after buying an additional 114 shares in the last quarter.
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).