Traders Buy Shares of Amgen Inc. (AMGN) on Weakness
Traders bought shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading on Tuesday. $76.62 million flowed into the stock on the tick-up and $59.91 million flowed out of the stock on the tick-down, for a money net flow of $16.71 million into the stock. Of all equities tracked, Amgen had the 29th highest net in-flow for the day. Amgen traded down ($0.75) for the day and closed at $170.76
Several equities research analysts have recently issued reports on AMGN shares. Bank of America Corp. reaffirmed a “hold” rating on shares of Amgen in a report on Thursday, May 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $186.00 target price on shares of Amgen in a report on Tuesday, July 12th. Vetr raised Amgen from a “sell” rating to a “hold” rating and set a $165.78 target price on the stock in a report on Wednesday, July 27th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $157.00 target price on shares of Amgen in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $185.15.
The stock has a 50-day moving average price of $169.94 and a 200 day moving average price of $157.31. The firm has a market cap of $127.79 billion and a price-to-earnings ratio of 17.47.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $2.57 EPS. On average, analysts anticipate that Amgen Inc. will post $11.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Wednesday, August 17th will be issued a $1.00 dividend. The ex-dividend date is Monday, August 15th. This represents a $4.00 annualized dividend and a yield of 2.34%.
In related 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 Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds recently bought and sold shares of the company. Parsons Capital Management Inc. RI increased its stake in Amgen by 0.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 19,224 shares of the medical research company’s stock valued at $3,121,000 after buying an additional 180 shares during the period. Victory Capital Management Inc. increased its stake in Amgen by 287.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,083 shares of the medical research company’s stock valued at $2,449,000 after buying an additional 11,188 shares during the period. TrimTabs Asset Management LLC increased its stake in Amgen by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 14,887 shares of the medical research company’s stock valued at $2,417,000 after buying an additional 274 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 valued at $404,619,000 after buying an additional 87,862 shares during the period. Finally, Pittenger & Anderson Inc. increased its stake in Amgen by 54.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 15,535 shares of the medical research company’s stock valued at $2,522,000 after buying an additional 5,460 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).