Investors Buy Shares of Amgen Inc. (AMGN) on Weakness
Investors purchased shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading hours on Tuesday. $94.81 million flowed into the stock on the tick-up and $67.20 million flowed out of the stock on the tick-down, for a money net flow of $27.61 million into the stock. Of all equities tracked, Amgen had the 11th highest net in-flow for the day. Amgen traded down ($0.26) for the day and closed at $172.08
A number of brokerages have recently weighed in on AMGN. Cowen and Company reaffirmed 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 report on Saturday, April 30th. Piper Jaffray Cos. reiterated a “buy” rating on shares of Amgen in a report 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 report 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 on the stock in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Amgen has an average rating of “Hold” and an average target price of $185.38.
The company’s 50-day moving average is $161.81 and its 200-day moving average is $154.66. The company has a market capitalization of $128.78 billion and a PE ratio of 17.61.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping the 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. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, equities analysts predict that Amgen Inc. will post $11.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.32%.
In other news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 2nd. The shares were 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 SEC, which can be accessed through the SEC website.
Several hedge funds have bought and sold shares of AMGN. Braver Wealth Management LLC increased its stake in Amgen by 10.2% in the fourth quarter. Braver Wealth Management LLC now owns 29,652 shares of the medical research company’s stock worth $4,813,000 after buying an additional 2,743 shares during the period. American International Group Inc. increased its stake in Amgen by 2.5% in the fourth quarter. American International Group Inc. now owns 374,554 shares of the medical research company’s stock worth $60,802,000 after buying an additional 9,046 shares during the period. BlackRock Investment Management LLC increased its stake in Amgen by 3.7% in the fourth quarter. BlackRock Investment Management LLC now owns 2,492,571 shares of the medical research company’s stock worth $404,619,000 after buying an additional 87,862 shares during the period. 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. Finally, Airain ltd increased its stake in Amgen by 45.7% in the fourth quarter. Airain ltd now owns 115,531 shares of the medical research company’s stock worth $18,754,000 after buying an additional 36,225 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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