Investors Buy Amgen Inc. (AMGN) on Weakness
Investors bought shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading hours on Tuesday. $124.63 million flowed into the stock on the tick-up and $98.50 million flowed out of the stock on the tick-down, for a money net flow of $26.13 million into the stock. Of all equities tracked, Amgen had the 16th highest net in-flow for the day. Amgen traded down ($2.42) for the day and closed at $172.16
A number of equities analysts have issued reports on AMGN shares. Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $168.64 price objective on the stock in a research report on Wednesday, April 27th. Morgan Stanley restated a “buy” rating and issued a $195.00 price objective on shares of Amgen in a research report on Friday, April 29th. Leerink Swann restated a “market perform” rating and issued a $186.00 price objective (up previously from $179.00) on shares of Amgen in a research report on Sunday, May 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $186.00 target price (up previously from $183.00) on shares of Amgen in a research note on Saturday, April 30th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Amgen in a research note on Saturday, April 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Amgen presently has a consensus rating of “Hold” and a consensus target price of $185.38.
The company’s 50 day moving average price is $165.27 and its 200 day moving average price is $155.41. The firm has a market capitalization of $128.84 billion and a price-to-earnings ratio of 17.62.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. During the same quarter in the prior year, the business posted $2.57 earnings per share. The firm earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post $11.37 EPS for the current year.
The company also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, August 15th.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link.
Other hedge funds have recently added to or reduced their stakes in the company. Twin Capital Management Inc. boosted its stake in Amgen by 11.3% in the fourth quarter. Twin Capital Management Inc. now owns 46,985 shares of the medical research company’s stock worth $7,627,000 after buying an additional 4,780 shares in the last quarter. Haverford Trust Co. boosted its stake in Amgen by 14.6% in the fourth quarter. Haverford Trust Co. now owns 38,517 shares of the medical research company’s stock worth $6,252,000 after buying an additional 4,898 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in Amgen by 5.5% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 459,038 shares of the medical research company’s stock worth $69,916,000 after buying an additional 23,959 shares in the last quarter. Montag & Caldwell LLC boosted its stake in Amgen by 24.6% in the fourth quarter. Montag & Caldwell LLC now owns 1,028,442 shares of the medical research company’s stock worth $166,947,000 after buying an additional 203,350 shares in the last quarter. Finally, Burney Co. boosted its stake in Amgen by 3.9% in the fourth quarter. Burney Co. now owns 9,390 shares of the medical research company’s stock worth $1,519,000 after buying an additional 355 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).