Amgen (AMGN) Lowered to “Hold” at Vetr

Vetr lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a hold rating in a research note released on Wednesday morning. Vetr currently has $184.25 price target on the medical research company’s stock.

AMGN has been the topic of a number of other reports. BMO Capital Markets restated a market perform rating and issued a $198.00 price target on shares of Amgen in a research report on Thursday, October 26th. Oppenheimer restated a buy rating and issued a $203.00 price target on shares of Amgen in a research report on Thursday, September 7th. Mizuho restated a buy rating and issued a $198.00 price target (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Zacks Investment Research downgraded shares of Amgen from a buy rating to a hold rating in a research report on Monday, October 16th. Finally, BidaskClub upgraded shares of Amgen from a strong sell rating to a sell rating in a research report on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Amgen presently has an average rating of Hold and a consensus target price of $190.15.

Amgen (AMGN) traded down $0.76 during trading on Wednesday, hitting $179.58. 2,017,233 shares of the stock were exchanged, compared to its average volume of 2,640,000. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen has a one year low of $150.38 and a one year high of $191.10. The company has a market cap of $130,360.00, a P/E ratio of 16.22, a P/E/G ratio of 2.55 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the firm posted $3.02 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. equities analysts expect that Amgen will post 12.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a dividend of $1.32 per share. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a yield of 2.94%. Amgen’s dividend payout ratio (DPR) is presently 41.55%.

Amgen declared that its board has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,575 shares of company stock worth $1,509,339. 0.19% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Amgen by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 52,146,935 shares of the medical research company’s stock worth $8,981,266,000 after purchasing an additional 489,720 shares during the last quarter. BlackRock Inc. grew its stake in shares of Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after purchasing an additional 909,689 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Amgen by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,166,002 shares of the medical research company’s stock worth $1,522,551,000 after purchasing an additional 140,117 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after purchasing an additional 806,119 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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