Mizuho Downgrades Amgen (NASDAQ:AMGN) to Neutral

Mizuho lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. They currently have $212.00 price objective on the medical research company’s stock, up from their previous price objective of $208.00. The analysts noted that the move was a valuation call.

Several other research analysts have also issued reports on AMGN. Wells Fargo & Co boosted their target price on Amgen from $197.00 to $202.00 and gave the company a market perform rating in a research report on Monday, August 12th. Citigroup restated a buy rating on shares of Amgen in a research report on Monday, August 12th. BMO Capital Markets set a $230.00 target price on Amgen and gave the company a buy rating in a research report on Wednesday, July 31st. Cowen restated a buy rating and set a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. Finally, Oppenheimer lifted their price target on shares of Amgen from $210.00 to $230.00 and gave the company an outperform rating in a research note on Tuesday, August 13th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $212.94.

Shares of NASDAQ:AMGN opened at $203.42 on Monday. Amgen has a 1 year low of $166.30 and a 1 year high of $211.90. The business has a 50 day simple moving average of $186.18 and a two-hundred day simple moving average of $183.40. The firm has a market capitalization of $121.99 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the previous year, the business earned $3.83 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts expect that Amgen will post 14.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, August 14th. Amgen’s dividend payout ratio is presently 40.28%.

In related news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the transaction, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock valued at $804,312 in the last ninety days. Insiders own 0.25% of the company’s stock.

Large investors have recently modified their holdings of the stock. Capital Financial Planning LLC acquired a new position in shares of Amgen during the fourth quarter worth $27,000. Advisors Preferred LLC acquired a new position in shares of Amgen during the second quarter worth $30,000. Arbor Wealth Management LLC increased its position in shares of Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. C J Advisory Inc acquired a new position in shares of Amgen during the first quarter worth $40,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of Amgen during the fourth quarter worth $41,000. 78.01% of the stock is owned by institutional investors.

About Amgen

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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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