Amgen Inc. (NASDAQ:AMGN - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $280.26, but opened at $268.91. Amgen shares last traded at $272.06, with a volume of 666,436 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on AMGN shares. Morgan Stanley upped their price target on shares of Amgen from $328.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 9th. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Finally, Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of "Moderate Buy" and an average target price of $315.22.
Check Out Our Latest Stock Analysis on AMGN
Amgen Stock Up 2.8 %
The stock's fifty day moving average price is $304.33 and its 200-day moving average price is $295.11. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $158.03 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 2.63 and a beta of 0.59.
Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.24%. Amgen's payout ratio is presently 126.09%.
Insider Buying and Selling at Amgen
In other news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Amgen
Hedge funds and other institutional investors have recently bought and sold shares of the business. Beck Mack & Oliver LLC increased its holdings in shares of Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC boosted its position in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the period. Blossom Wealth Management grew its holdings in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock worth $284,000 after purchasing an additional 37 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock valued at $356,000 after purchasing an additional 37 shares during the last quarter. Finally, Trillium Asset Management LLC grew its holdings in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 76.50% of the company's stock.
About Amgen
(
Get Free Report)
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.
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