Amgen, Inc. (NASDAQ:AMGN) Receives $217.56 Average PT from Brokerages
Shares of Amgen, Inc. (NASDAQ:AMGN) have been assigned an average rating of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $218.13.
AMGN has been the topic of several analyst reports. William Blair restated a “hold” rating on shares of Amgen in a report on Friday, August 30th. JPMorgan Chase & Co. set a $198.00 target price on Amgen and gave the company a “hold” rating in a research note on Friday. Mizuho downgraded shares of Amgen from a “buy” rating to a “neutral” rating and raised their price target for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Citigroup restated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. Finally, Oppenheimer lifted their price target on shares of Amgen from $230.00 to $240.00 in a research note on Tuesday, August 27th.
Shares of NASDAQ AMGN traded down $5.47 during midday trading on Thursday, reaching $196.87. 4,377,198 shares of the company’s stock were exchanged, compared to its average volume of 3,052,051. Amgen has a 52-week low of $166.30 and a 52-week high of $211.90. The stock has a market capitalization of $124.58 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The business’s fifty day moving average price is $195.79 and its two-hundred day moving average price is $185.11.
The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were issued a $1.45 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.95%. Amgen’s dividend payout ratio (DPR) is 40.28%.
In other Amgen news, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the completion of the sale, the senior vice president now owns 32,648 shares in the company, valued at $6,793,069.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,851 shares of company stock worth $3,659,900. Corporate insiders own 0.25% of the company’s stock.
Several large investors have recently modified their holdings of the business. Gifford Fong Associates grew its holdings in shares of Amgen by 25.3% during the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock valued at $12,470,000 after purchasing an additional 13,671 shares during the last quarter. Bray Capital Advisors grew its stake in Amgen by 11.6% during the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after buying an additional 2,045 shares during the last quarter. Weaver Consulting Group acquired a new stake in Amgen in the first quarter worth $239,000. CHICAGO TRUST Co NA increased its position in Amgen by 2.8% in the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after buying an additional 100 shares during the period. Finally, BHK Investment Advisors LLC increased its position in Amgen by 3.9% in the second quarter. BHK Investment Advisors LLC now owns 2,197 shares of the medical research company’s stock worth $405,000 after buying an additional 82 shares during the period. 76.28% of the stock is currently owned by institutional investors.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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