Traders Buy Amgen (AMGN) on Weakness

Traders bought shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading on Tuesday. $155.79 million flowed into the stock on the tick-up and $65.62 million flowed out of the stock on the tick-down, for a money net flow of $90.17 million into the stock. Of all equities tracked, Amgen had the 14th highest net in-flow for the day. Amgen traded down ($0.75) for the day and closed at $206.46

Several research analysts recently weighed in on AMGN shares. Goldman Sachs Group restated a “buy” rating and issued a $228.00 price objective on shares of Amgen in a research report on Friday, July 27th. Royal Bank of Canada set a $193.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research report on Friday, July 27th. Jefferies Financial Group boosted their price objective on shares of Amgen from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research report on Tuesday, June 26th. Finally, Mizuho restated a “buy” rating and issued a $200.00 price objective on shares of Amgen in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $203.03.

The stock has a market cap of $133.64 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.12 and a current ratio of 3.39.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.52 by $0.31. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.27 EPS. equities analysts expect that Amgen, Inc. will post 13.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 17th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Thursday, August 16th. Amgen’s dividend payout ratio (DPR) is 41.97%.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Royal London Asset Management Ltd. acquired a new position in shares of Amgen in the 2nd quarter valued at $54,522,000. Steigerwald Gordon & Koch Inc. boosted its stake in Amgen by 1.7% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 57,664 shares of the medical research company’s stock worth $10,637,000 after purchasing an additional 979 shares during the period. HRT Financial LLC boosted its stake in Amgen by 23.0% in the 2nd quarter. HRT Financial LLC now owns 2,507 shares of the medical research company’s stock worth $462,000 after purchasing an additional 469 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in Amgen in the 2nd quarter worth $209,000. Finally, Mainstay Capital Management LLC ADV acquired a new position in Amgen in the 2nd quarter worth $111,000. 82.44% of the stock is owned by institutional investors.

About Amgen (NASDAQ:AMGN)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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