Amgen (NASDAQ:AMGN) Stock Price Down 2.7% After Insider Selling

Amgen Inc. (NASDAQ:AMGN)’s stock price was down 2.7% during trading on Monday after an insider sold shares in the company. The stock traded as low as $301.09 and last traded at $302.91. Approximately 971,665 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,868,695 shares. The stock had previously closed at $311.29.

Specifically, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Royal Bank of Canada decreased their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $305.05.

Amgen Stock Down 3.8 %

The stock has a 50 day moving average price of $275.21 and a 200 day moving average price of $281.59. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a market capitalization of $160.64 billion, a P/E ratio of 42.78, a PEG ratio of 3.00 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. Amgen’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.98 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 128.57%.

Hedge Funds Weigh In On Amgen

A number of large investors have recently made changes to their positions in AMGN. OFI Invest Asset Management bought a new position in shares of Amgen in the 3rd quarter worth $26,000. Briaud Financial Planning Inc purchased a new stake in Amgen during the third quarter valued at about $26,000. Horizon Financial Services LLC bought a new position in shares of Amgen during the first quarter valued at about $28,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen in the 4th quarter valued at about $29,000. Finally, United Community Bank purchased a new position in Amgen in the 4th quarter worth approximately $29,000. 76.50% of the stock is owned by institutional investors.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.