Investors Sell Shares of Amgen Inc. (AMGN) on Strength (AMGN)
Traders sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading on Tuesday. $133.93 million flowed into the stock on the tick-up and $181.59 million flowed out of the stock on the tick-down, for a money net flow of $47.66 million out of the stock. Of all companies tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $4.29 for the day and closed at $186.19
A number of brokerages recently commented on AMGN. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Barclays PLC raised their price objective on shares of Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research report on Friday, October 6th. Mizuho restated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research report on Friday, October 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Amgen in a research report on Friday, October 6th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Amgen currently has a consensus rating of “Buy” and a consensus price target of $189.99.
The stock has a market capitalization of $135.92 billion, a PE ratio of 16.97 and a beta of 1.36. The company has a 50 day moving average of $184.68 and a 200-day moving average of $171.37.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.84 EPS. Equities analysts anticipate that Amgen Inc. will post $12.58 earnings per share for the current fiscal year.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. FMR LLC lifted its position in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after acquiring an additional 2,587,041 shares in the last quarter. Vanguard Group Inc. increased its stake in Amgen by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,146,935 shares of the medical research company’s stock valued at $8,981,266,000 after buying an additional 489,720 shares during the period. BlackRock Inc. increased its stake in Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after buying an additional 909,689 shares during the period. Bank of New York Mellon Corp increased its stake in Amgen by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock valued at $1,403,676,000 after buying an additional 195,200 shares during the period. Finally, Nordea Investment Management AB increased its stake in Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after buying an additional 806,119 shares during the period. Institutional investors and hedge funds own 78.08% of the company’s stock.
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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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