Brokerages Set Amgen Inc. (AMGN) PT at $190.03
Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned a consensus recommendation of “Buy” from the twenty-five brokerages that are covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $189.59.
Several analysts have recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective for the company. Bank of America Corporation lifted their price objective on shares of Amgen to $210.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Morgan Stanley reiterated an “overweight” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Amgen in a research note on Friday, October 6th. Finally, Mizuho reiterated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research note on Friday, October 6th.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during 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 company’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.02 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.63%. Amgen’s payout ratio is presently 41.63%.
Amgen announced that its board has authorized a stock buyback plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.95, for a total transaction of $283,573.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. TrimTabs Asset Management LLC increased its holdings in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock worth $103,000 after buying an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in shares of Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock worth $104,000 after buying an additional 4 shares during the period. American Beacon Advisors Inc. purchased a new position in shares of Amgen during the first quarter worth $106,000. Finally, Baker Ellis Asset Management LLC purchased a new position in shares of Amgen during the third quarter worth $108,000. 78.13% of the stock is owned by institutional investors and hedge funds.
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).
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