Amgen (NASDAQ:AMGN) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other research firms have also issued reports on AMGN. Oppenheimer set a $240.00 price target on Amgen and gave the company a buy rating in a research report on Monday, September 9th. Credit Suisse Group reaffirmed an outperform rating and issued a $225.00 price target (up previously from $202.00) on shares of Amgen in a research report on Friday, August 16th. William Blair reaffirmed a hold rating on shares of Amgen in a research report on Friday, August 30th. Cantor Fitzgerald set a $230.00 price target on Amgen and gave the company a hold rating in a research report on Monday, September 30th. Finally, Wells Fargo & Co reaffirmed a market perform rating and issued a $220.00 price target (up previously from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Amgen presently has a consensus rating of Hold and a consensus target price of $217.28.

Shares of AMGN stock traded down $0.01 during trading hours on Friday, hitting $203.05. 1,321,500 shares of the company’s stock were exchanged, compared to its average volume of 1,897,198. The firm has a 50 day moving average of $198.88 and a two-hundred day moving average of $187.16. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $211.90. 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 firm has a market cap of $121.78 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.69 and a beta of 1.11.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the company earned $3.83 EPS. Amgen’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Amgen will post 14.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, November 14th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.

In other news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total transaction of $413,400.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,376,651.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the firm’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 value of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,671,900 in the last three months. Corporate insiders own 0.25% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Thomasville National Bank boosted its holdings in shares of Amgen by 2.7% during the 2nd quarter. Thomasville National Bank now owns 24,500 shares of the medical research company’s stock valued at $4,515,000 after acquiring an additional 653 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Amgen by 1.9% during the 2nd quarter. Private Trust Co. NA now owns 5,678 shares of the medical research company’s stock valued at $1,046,000 after acquiring an additional 104 shares during the last quarter. LVM Capital Management Ltd. MI lifted its stake in shares of Amgen by 1.3% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 61,058 shares of the medical research company’s stock worth $11,252,000 after purchasing an additional 792 shares during the period. Baystate Wealth Management LLC lifted its stake in shares of Amgen by 1,432.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 1,532 shares of the medical research company’s stock worth $286,000 after purchasing an additional 1,432 shares during the period. Finally, Fulton Bank N.A. lifted its stake in shares of Amgen by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 14,196 shares of the medical research company’s stock worth $2,616,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 76.33% of the company’s stock.

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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