Mizuho Downgrades Amgen (NASDAQ:AMGN) to Neutral

Mizuho lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a neutral rating in a research note published on Monday morning, BenzingaRatingsTable reports. Mizuho currently has $212.00 target price on the medical research company’s stock, up from their previous target price of $208.00. The analysts noted that the move was a valuation call.

AMGN has been the topic of a number of other research reports. Royal Bank of Canada reissued a hold rating on shares of Amgen in a research report on Sunday, August 11th. JPMorgan Chase & Co. reissued a hold rating on shares of Amgen in a research report on Friday, August 9th. Cowen reissued a buy rating and issued a $229.00 price target on shares of Amgen in a research report on Wednesday, May 1st. Evercore ISI reissued a hold rating on shares of Amgen in a research report on Sunday, August 11th. Finally, BMO Capital Markets set a $230.00 price target on shares of Amgen and gave the company a buy rating in a research report on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $212.94.

NASDAQ:AMGN opened at $203.94 on Monday. Amgen has a 12 month low of $166.30 and a 12 month high of $211.90. The firm has a market cap of $122.35 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 2.39 and a beta of 1.19. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The company’s 50 day moving average is $185.85 and its 200-day moving average is $183.32.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is currently 40.28%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the sale, the director now owns 16,219 shares in the company, valued at $2,849,353.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 425 shares of Amgen 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 sale, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock worth $804,312 in the last ninety days. 0.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMGN. Capital Financial Planning LLC acquired a new stake in Amgen during the fourth quarter worth $27,000. Advisors Preferred LLC acquired a new stake in Amgen during the second quarter worth $30,000. Arbor Wealth Management LLC boosted its stake in shares of Amgen by 154.5% in the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. C J Advisory Inc acquired a new stake in shares of Amgen in the 1st quarter valued at $40,000. Finally, Clarfeld Financial Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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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