Shares of Amgen, Inc. (NASDAQ:AMGN) have been given an average recommendation of “Buy” by the twenty-three ratings firms that are covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $225.47.
A number of equities analysts have weighed in on AMGN shares. Cowen set a $231.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Sunday, September 29th. Citigroup reiterated a “buy” rating on shares of Amgen in a research report on Monday, August 12th. Mizuho reiterated a “hold” rating and set a $212.00 target price on shares of Amgen in a research report on Sunday, September 29th. Leerink Swann increased their target price on shares of Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer set a $240.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Monday, September 9th.
Shares of NASDAQ:AMGN opened at $220.67 on Tuesday. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $129.83 billion, a PE ratio of 15.32, a P/E/G ratio of 2.25 and a beta of 1.09. Amgen has a twelve month low of $166.30 and a twelve month high of $225.26. The company has a 50-day moving average price of $207.07 and a two-hundred day moving average price of $190.73.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, November 14th. Amgen’s payout ratio is 40.28%.
In other news, SVP Cynthia M. Patton sold 13,426 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the sale, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total transaction of $387,160.00. Following the completion of the sale, the director now directly owns 16,436 shares in the company, valued at $3,181,680.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,851 shares of company stock worth $3,685,674. Insiders own 0.25% of the company’s stock.
Several institutional investors have recently made changes to their positions in AMGN. Advisors Preferred LLC purchased a new stake in Amgen in the second quarter valued at approximately $30,000. Arbor Wealth Management LLC raised its stake in Amgen by 154.5% in the second 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. Atwater Malick LLC purchased a new stake in Amgen in the third quarter valued at approximately $39,000. Ashburton Jersey Ltd purchased a new stake in Amgen in the second quarter valued at approximately $42,000. Finally, Strategic Blueprint LLC purchased a new stake in Amgen in the third quarter valued at approximately $45,000. 76.51% of the stock is currently owned by hedge funds and other institutional investors.
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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