Investors Sell Amgen Inc. (AMGN) on Strength (AMGN)
Investors sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading on Thursday. $112.13 million flowed into the stock on the tick-up and $150.10 million flowed out of the stock on the tick-down, for a money net flow of $37.97 million out of the stock. Of all equities tracked, Amgen had the 26th highest net out-flow for the day. Amgen traded up $2.33 for the day and closed at $180.71
Several brokerages have recently issued reports on AMGN. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $203.00 price target on shares of Amgen in a research note on Thursday. Cann restated a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Mizuho restated a “buy” rating and set a $183.00 price target (down previously from $195.00) on shares of Amgen in a research note on Monday, August 21st. BidaskClub lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Argus raised their price target on shares of Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Amgen has an average rating of “Buy” and an average price target of $186.04.
The company has a market capitalization of $131.86 billion, a P/E ratio of 16.46 and a beta of 1.35. The stock has a 50 day moving average price of $173.73 and a 200-day moving average price of $168.71.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. Amgen’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $2.84 earnings per share. On average, analysts predict that Amgen Inc. will post $12.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 17th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 annualized dividend and a yield of 2.55%. Amgen’s payout ratio is 41.93%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intl Fcstone Inc. purchased a new position in Amgen during the second quarter valued at $1,769,000. Gs Investments Inc. purchased a new position in Amgen during the second quarter valued at $2,119,000. Lord Abbett & CO. LLC purchased a new position in Amgen during the second quarter valued at $14,175,000. United Bank VA grew its stake in Amgen by 7.4% during the second quarter. United Bank VA now owns 28,581 shares of the medical research company’s stock valued at $4,923,000 after acquiring an additional 1,960 shares in the last quarter. Finally, Farmers National Bank grew its stake in Amgen by 5.4% during the second quarter. Farmers National Bank now owns 5,166 shares of the medical research company’s stock valued at $890,000 after acquiring an additional 264 shares in the last quarter. 78.13% of the stock is owned by institutional investors.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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