A number of other equities analysts have also issued reports on the stock. BMO Capital Markets raised shares of Amgen from a market perform rating to an outperform rating and raised their price target for the stock from $286.00 to $326.00 in a research report on Tuesday, December 19th. UBS Group reduced their price objective on Amgen from $315.00 to $314.00 and set a neutral rating for the company in a research note on Monday, January 29th. Daiwa Capital Markets raised Amgen from a neutral rating to a buy rating and boosted their price objective for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Jefferies Financial Group restated a buy rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, October 12th. Finally, Leerink Partnrs raised shares of Amgen from a market perform rating to an outperform rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $295.30.
Amgen Trading Down 1.3 %
Amgen (NASDAQ:AMGN – Get Free Report) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $4.09 EPS. On average, analysts forecast that Amgen will post 19.68 earnings per share for the current year.
Amgen Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 16th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, February 15th. This is a positive change from Amgen’s previous quarterly dividend of $2.13. This represents a $9.00 dividend on an annualized basis and a yield of 3.09%. Amgen’s payout ratio is presently 68.21%.
Insider Activity at Amgen
In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $273.03, for a total value of $572,270.88. Following the transaction, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Amgen
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Amgen by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after acquiring an additional 165,636 shares during the last quarter. Morgan Stanley raised its stake in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares during the period. Geode Capital Management LLC boosted its holdings in Amgen by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,799,183 shares of the medical research company’s stock valued at $2,613,646,000 after purchasing an additional 368,924 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 4.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,241,858 shares of the medical research company’s stock valued at $2,495,917,000 after purchasing an additional 480,421 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after buying an additional 7,532,031 shares during the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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