Amgen (NASDAQ:AMGN) Trading Up 5.9%

Amgen, Inc. (NASDAQ:AMGN) shares were up 5.9% on Friday . The stock traded as high as $200.00 and last traded at $196.25, approximately 7,791,613 shares changed hands during mid-day trading. An increase of 161% from the average daily volume of 2,986,983 shares. The stock had previously closed at $185.23.

Several equities research analysts have recently weighed in on AMGN shares. JPMorgan Chase & Co. reissued a “hold” rating and issued a $190.00 price objective on shares of Amgen in a research report on Wednesday, May 15th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Mizuho reissued a “buy” rating and issued a $208.00 price objective on shares of Amgen in a research report on Monday, July 1st. Oppenheimer set a $210.00 price objective on Amgen and gave the company a “buy” rating in a research report on Friday, May 24th. Finally, BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $210.41.

The firm’s 50 day simple moving average is $181.68. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The stock has a market cap of $110.62 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.83 earnings per share. As a group, equities research analysts expect that Amgen, Inc. will post 14.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.96%. Amgen’s payout ratio is 40.28%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $175.68, for a total transaction of $351,360.00. Following the completion of the transaction, the director now directly owns 16,219 shares in the company, valued at $2,849,353.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock valued at $804,312 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bray Capital Advisors raised its stake in Amgen by 11.6% during the second quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after acquiring an additional 2,045 shares in the last quarter. Weaver Consulting Group acquired a new position in Amgen during the first quarter worth $239,000. CHICAGO TRUST Co NA raised its stake in Amgen by 2.8% during the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after acquiring an additional 100 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Amgen in the fourth quarter valued at $117,000. Finally, Calton & Associates Inc. increased its stake in shares of Amgen by 17.8% in the second quarter. Calton & Associates Inc. now owns 1,770 shares of the medical research company’s stock valued at $326,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Amgen Company Profile (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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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