Several other analysts also recently weighed in on AMGN. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $270.00 target price on shares of Amgen in a research note on Friday, October 20th. UBS Group cut their target price on Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Finally, Royal Bank of Canada lifted their target price on Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.30.
Amgen Trading Down 0.3 %
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 152.15% and a net margin of 23.83%. The business’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $4.09 EPS. Equities research analysts expect that Amgen will post 19.81 EPS for the current year.
In other news, SVP Nancy A. Grygiel sold 2,096 shares of Amgen stock in a transaction on Monday, December 4th. The stock was sold at an average price of $273.03, for a total transaction of $572,270.88. Following the transaction, the senior vice president now owns 10,874 shares in the company, valued at $2,968,928.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares in the last quarter. Morgan Stanley boosted its position in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after purchasing an additional 1,523,665 shares during the last quarter. Geode Capital Management LLC boosted its position in Amgen by 3.2% during the second quarter. Geode Capital Management LLC now owns 11,799,183 shares of the medical research company’s stock valued at $2,613,646,000 after purchasing an additional 368,924 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 4.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,241,858 shares of the medical research company’s stock valued at $2,495,917,000 after purchasing an additional 480,421 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Amgen by 83,875.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.
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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