Amgen (NASDAQ:AMGN) had its price objective upped by Oppenheimer from $210.00 to $230.00 in a report published on Tuesday, The Fly reports. They currently have an outperform rating on the medical research company’s stock. Oppenheimer also issued estimates for Amgen’s Q3 2019 earnings at $3.48 EPS, Q4 2019 earnings at $3.29 EPS, FY2019 earnings at $14.31 EPS, FY2020 earnings at $15.96 EPS, FY2021 earnings at $16.78 EPS, FY2022 earnings at $17.29 EPS and FY2023 earnings at $17.81 EPS.
Several other equities analysts have also recently weighed in on AMGN. Zacks Investment Research cut Amgen from a buy rating to a hold rating in a report on Monday, April 15th. Citigroup raised Amgen from a neutral rating to a buy rating and dropped their price objective for the company from $211.00 to $205.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Amgen in a report on Friday, August 9th. BMO Capital Markets set a $230.00 price objective on Amgen and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $210.00 price objective on Amgen and gave the company a buy rating in a report on Saturday, August 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $212.72.
Shares of NASDAQ AMGN opened at $204.02 on Tuesday. The stock has a market capitalization of $122.35 billion, a PE ratio of 14.17, a P/E/G ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. The business has a fifty day moving average price of $183.92 and a two-hundred day moving average price of $182.82. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $211.90.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.45 per share. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
In other news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the transaction, the director now directly 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. Insiders have sold a total of 4,425 shares of company stock valued at $804,312 in the last three months. 0.25% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of AMGN. Norges Bank acquired a new position in Amgen in the 4th quarter worth about $1,283,248,000. Nuveen Asset Management LLC increased its holdings in Amgen by 1,334.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after purchasing an additional 4,598,329 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in Amgen by 19,447.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after purchasing an additional 1,796,156 shares in the last quarter. BlackRock Inc. increased its holdings in Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after purchasing an additional 1,585,911 shares in the last quarter. Finally, Ruffer LLP acquired a new position in Amgen in the 2nd quarter worth about $192,788,000. 78.96% of the stock is owned by institutional investors and hedge funds.
Amgen Company Profile
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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