Amgen, Inc. (NASDAQ:AMGN) EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Amgen, Inc. (NASDAQ:AMGN) traded up $2.47 during midday trading on Wednesday, hitting $188.01. 4,009,525 shares of the company’s stock traded hands, compared to its average volume of 2,700,000. The stock has a market cap of $136,480.00, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.70 and a beta of 1.36. Amgen, Inc. has a 52 week low of $150.38 and a 52 week high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.02 EPS. equities research analysts forecast that Amgen, Inc. will post 12.71 earnings per share for the current year.
Amgen announced that its Board of Directors has approved a stock repurchase program 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen in the 3rd quarter worth about $108,000. Jackson Grant Investment Advisers Inc. boosted its position in shares of Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after buying an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen in the 2nd quarter worth about $110,000. Omnia Family Wealth LLC boosted its position in shares of Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after buying an additional 147 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after buying an additional 341 shares in the last quarter. Institutional investors own 78.48% of the company’s stock.
Several equities analysts have issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 price objective (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank of Canada dropped their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 26th. Oppenheimer set a $205.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Friday, January 5th. Morgan Stanley dropped their price objective on shares of Amgen from $196.00 to $193.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $190.15.
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).
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