Traders Sell Amgen (AMGN) on Strength After Insider Selling
Traders sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading hours on Wednesday following insider selling activity. $152.87 million flowed into the stock on the tick-up and $267.37 million flowed out of the stock on the tick-down, for a money net flow of $114.50 million out of the stock. Of all equities tracked, Amgen had the 12th highest net out-flow for the day. Amgen traded up $2.47 for the day and closed at $188.01Specifically, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,575 shares of company stock worth $1,508,836. Insiders own 0.19% of the company’s stock.
AMGN has been the topic of a number of research reports. BMO Capital Markets reissued a “market perform” rating and set a $198.00 price objective on shares of Amgen in a report on Thursday, October 26th. Mizuho reissued a “buy” rating and set a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 16th. BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $196.00 price objective (up from $189.00) on shares of Amgen in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $190.15.
The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $136,480.00, a P/E ratio of 16.98, a P/E/G ratio of 2.70 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.02 EPS. equities research analysts forecast that Amgen, Inc. will post 12.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s payout ratio is 41.55%.
Amgen declared that its Board of Directors has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently made changes to their positions in the business. Berkshire Asset Management LLC PA grew its position in shares of Amgen by 8.6% in the 4th quarter. Berkshire Asset Management LLC PA now owns 127,873 shares of the medical research company’s stock worth $22,237,000 after buying an additional 10,162 shares during the last quarter. Charter Trust Co. grew its position in shares of Amgen by 10.5% in the 4th quarter. Charter Trust Co. now owns 12,026 shares of the medical research company’s stock worth $2,092,000 after buying an additional 1,141 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Amgen by 3.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,304,340 shares of the medical research company’s stock worth $574,680,000 after buying an additional 123,250 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in shares of Amgen by 2.9% in the 4th quarter. Burns J W & Co. Inc. NY now owns 19,918 shares of the medical research company’s stock worth $3,464,000 after buying an additional 558 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Amgen by 27.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 20,142 shares of the medical research company’s stock worth $3,503,000 after buying an additional 4,360 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors and hedge funds.
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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