Amgen (NASDAQ:AMGN) Earns Outperform Rating from Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Amgen (NASDAQ:AMGN) in a report published on Friday, 24/7 WallStreet reports. The brokerage currently has a $225.00 price target on the medical research company’s stock, up from their previous price target of $202.00.

AMGN has been the subject of a number of other research reports. Evercore ISI reissued a hold rating on shares of Amgen in a report on Sunday, August 11th. Oppenheimer increased their target price on Amgen from $210.00 to $230.00 and gave the company an outperform rating in a report on Tuesday, August 13th. Royal Bank of Canada reissued a hold rating on shares of Amgen in a report on Sunday, August 11th. BidaskClub raised Amgen from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Cowen reissued a buy rating and set a $229.00 target price on shares of Amgen in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Amgen presently has a consensus rating of Buy and a consensus target price of $212.72.

NASDAQ AMGN opened at $204.02 on Friday. The stock has a market capitalization of $119.53 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.34 and a beta of 1.19. Amgen has a twelve month low of $166.30 and a twelve month high of $211.90. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. The stock has a 50-day moving average of $183.92 and a 200 day moving average of $182.82.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Amgen will post 14.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio is presently 40.28%.

In related news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,425 shares of company stock valued at $804,312. Insiders own 0.25% of the company’s stock.

Several large investors have recently bought and sold shares of AMGN. International Biotechnology Trust PLC grew its position in Amgen by 175.0% in the second quarter. International Biotechnology Trust PLC now owns 66,000 shares of the medical research company’s stock worth $12,159,000 after acquiring an additional 42,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Amgen by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 39,847 shares of the medical research company’s stock worth $7,344,000 after acquiring an additional 667 shares during the period. Krensavage Asset Management LLC grew its position in Amgen by 11.2% in the second quarter. Krensavage Asset Management LLC now owns 215,402 shares of the medical research company’s stock worth $39,694,000 after acquiring an additional 21,732 shares during the period. Prudential PLC grew its position in Amgen by 8.4% in the second quarter. Prudential PLC now owns 906,397 shares of the medical research company’s stock worth $166,991,000 after acquiring an additional 70,273 shares during the period. Finally, TCTC Holdings LLC grew its position in Amgen by 6.8% in the second quarter. TCTC Holdings LLC now owns 40,998 shares of the medical research company’s stock worth $7,555,000 after acquiring an additional 2,597 shares during the period. 78.96% of the stock is owned by hedge funds and other institutional investors.

About Amgen

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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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