Investors Buy Amgen Inc. (AMGN) on Weakness
Investors purchased shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading on Monday. $117.03 million flowed into the stock on the tick-up and $77.74 million flowed out of the stock on the tick-down, for a money net flow of $39.29 million into the stock. Of all equities tracked, Amgen had the 11th highest net in-flow for the day. Amgen traded down ($1.32) for the day and closed at $172.34
Several research firms recently issued reports on AMGN. Cowen and Company reiterated a “buy” rating on shares of Amgen in a research note on Sunday, April 17th. BMO Capital Markets reiterated a “buy” rating and issued a $186.00 target price (up from $183.00) on shares of Amgen in a research note on Saturday, April 30th. Piper Jaffray Cos. reiterated a “buy” rating on shares of Amgen in a research note on Saturday, April 30th. Leerink Swann reiterated a “market perform” rating and issued a $201.00 target price (up from $186.00) on shares of Amgen in a research note on Thursday, July 28th. Finally, Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 target price for the company in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $185.38.
The stock has a market capitalization of $128.97 billion and a PE ratio of 17.64. The stock’s 50 day moving average price is $161.20 and its 200 day moving average price is $154.54.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.58 billion. Amgen’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. On average, equities research analysts expect that Amgen Inc. will post $11.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, August 15th.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Other large investors have added to or reduced their stakes in the company. BlackRock Advisors LLC increased its stake in Amgen by 40.1% in the fourth quarter. BlackRock Advisors LLC now owns 3,746,237 shares of the medical research company’s stock worth $608,126,000 after buying an additional 1,071,485 shares during the period. Vanguard Group Inc. increased its stake in Amgen by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 44,916,785 shares of the medical research company’s stock worth $7,291,342,000 after buying an additional 953,984 shares during the period. Marshall Wace LLP increased its stake in Amgen by 9,486.1% in the fourth quarter. Marshall Wace LLP now owns 412,300 shares of the medical research company’s stock worth $66,929,000 after buying an additional 407,999 shares during the period. Morgan Stanley increased its stake in Amgen by 5.4% in the fourth quarter. Morgan Stanley now owns 7,317,025 shares of the medical research company’s stock worth $1,187,772,000 after buying an additional 373,979 shares during the period. Finally, Bank of Montreal Can increased its stake in Amgen by 14.3% in the fourth quarter. Bank of Montreal Can now owns 2,648,382 shares of the medical research company’s stock worth $429,912,000 after buying an additional 332,329 shares during the period.
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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