Amgen Inc. (NASDAQ:AMGN) Short Interest Down 5.7% in December

Amgen Inc. (NASDAQ:AMGNGet Rating) was the recipient of a large decline in short interest during the month of December. As of December 30th, there was short interest totalling 8,920,000 shares, a decline of 5.7% from the December 15th total of 9,460,000 shares. Based on an average trading volume of 2,800,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 17th. Morgan Stanley upped their price target on shares of Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a report on Friday, November 4th. SVB Leerink boosted their price objective on shares of Amgen from $256.00 to $282.00 and gave the company a “market perform” rating in a research report on Thursday, December 22nd. Credit Suisse Group began coverage on shares of Amgen in a research report on Thursday, November 17th. They set an “underperform” rating and a $240.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Amgen from $250.00 to $285.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to, the company currently has a consensus rating of “Hold” and a consensus target price of $253.57.

Amgen Stock Performance

Shares of AMGN stock opened at $263.24 on Monday. Amgen has a one year low of $214.39 and a one year high of $296.67. The company’s 50-day moving average is $274.18 and its 200 day moving average is $256.86. The company has a market capitalization of $140.46 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 10.17, a quick ratio of 1.35 and a current ratio of 1.68.

Amgen (NASDAQ:AMGNGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.43 by $0.27. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $4.67 EPS. Amgen’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts expect that Amgen will post 17.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be paid a dividend of $2.13 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 annualized dividend and a yield of 3.24%. This is a boost from Amgen’s previous quarterly dividend of $1.94. Amgen’s dividend payout ratio is currently 62.23%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 545 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total value of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares in the company, valued at approximately $3,818,661.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Culbertson A N & Co Inc grew its position in Amgen by 19.8% during the third quarter. Culbertson A N & Co Inc now owns 1,450 shares of the medical research company’s stock valued at $326,000 after buying an additional 240 shares during the period. Asset Dedication LLC grew its position in shares of Amgen by 11.8% during the 2nd quarter. Asset Dedication LLC now owns 11,931 shares of the medical research company’s stock valued at $2,875,000 after acquiring an additional 1,259 shares during the period. Mather Group LLC. grew its position in shares of Amgen by 2.3% during the 2nd quarter. Mather Group LLC. now owns 4,097 shares of the medical research company’s stock valued at $997,000 after acquiring an additional 91 shares during the period. Schmidt P J Investment Management Inc. bought a new stake in shares of Amgen during the 2nd quarter valued at $235,000. Finally, NewSquare Capital LLC grew its position in shares of Amgen by 7.3% during the 3rd quarter. NewSquare Capital LLC now owns 18,425 shares of the medical research company’s stock valued at $4,153,000 after acquiring an additional 1,249 shares during the period. Institutional investors own 75.53% of the company’s stock.

About Amgen

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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