Amgen (NASDAQ:AMGN) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Amgen (NASDAQ:AMGNGet Rating) in a research note issued to investors on Wednesday. The brokerage currently has a $290.00 price objective on the medical research company’s stock.

Other analysts have also issued research reports about the company. TheStreet raised Amgen from a c+ rating to a b rating in a research note on Monday, August 15th. StockNews.com lowered Amgen from a strong-buy rating to a buy rating in a research note on Monday, August 8th. SVB Leerink assumed coverage on Amgen in a research note on Monday, May 23rd. They issued a market perform rating and a $256.00 price target for the company. Royal Bank of Canada raised their price target on Amgen from $224.00 to $236.00 in a research note on Friday, August 5th. Finally, Robert W. Baird reaffirmed an underperform rating and issued a $185.00 price target on shares of Amgen in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of Hold and a consensus target price of $241.13.

Amgen Stock Performance

NASDAQ:AMGN opened at $228.12 on Wednesday. The firm has a market cap of $122.03 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.00 and a beta of 0.56. Amgen has a fifty-two week low of $198.64 and a fifty-two week high of $258.45. The company has a debt-to-equity ratio of 14.76, a quick ratio of 1.17 and a current ratio of 1.53. The business has a 50 day moving average price of $246.02 and a 200-day moving average price of $243.53.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings data on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.25. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.53 billion. Amgen had a return on equity of 218.34% and a net margin of 24.92%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.38 earnings per share. Equities research analysts predict that Amgen will post 17.45 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a dividend of $1.94 per share. The ex-dividend date was Wednesday, August 17th. This represents a $7.76 annualized dividend and a dividend yield of 3.40%. Amgen’s payout ratio is presently 65.76%.

Insider Activity

In other news, Director Robert Eckert sold 6,600 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the transaction, the director now directly owns 21,184 shares in the company, valued at $5,274,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert Eckert sold 6,600 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the transaction, the director now directly owns 21,184 shares in the company, valued at $5,274,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 200 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total value of $49,992.00. Following the transaction, the director now owns 5,301 shares of the company’s stock, valued at $1,325,037.96. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Amgen

Large investors have recently bought and sold shares of the business. Rational Advisors LLC bought a new stake in Amgen in the 1st quarter worth about $26,000. Heritage Wealth Management LLC bought a new stake in Amgen in the 2nd quarter worth about $28,000. CKW Financial Group bought a new stake in Amgen in the 1st quarter worth about $31,000. Blue Bell Private Wealth Management LLC increased its holdings in Amgen by 420.0% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 130 shares of the medical research company’s stock worth $32,000 after buying an additional 105 shares in the last quarter. Finally, Lumature Wealth Partners LLC increased its holdings in Amgen by 51.1% in the 1st quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after buying an additional 48 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors.

About Amgen

(Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Read More

Analyst Recommendations for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.