Investors Buy Amgen (AMGN) on Weakness

Traders purchased shares of Amgen (NASDAQ:AMGN) on weakness during trading hours on Thursday. $102.44 million flowed into the stock on the tick-up and $65.46 million flowed out of the stock on the tick-down, for a money net flow of $36.98 million into the stock. Of all companies tracked, Amgen had the 25th highest net in-flow for the day. Amgen traded down ($2.18) for the day and closed at $172.93

Several equities research analysts have recently weighed in on AMGN shares. Mizuho set a $192.00 price objective on Amgen and gave the company a “buy” rating in a research note on Friday, December 22nd. Piper Jaffray reiterated a “buy” rating on shares of Amgen in a research note on Tuesday, January 2nd. Vetr lowered Amgen from a “buy” rating to a “hold” rating and set a $184.25 price objective on the stock. in a research note on Wednesday, January 3rd. Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and an average target price of $190.57.

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The stock has a market cap of $115,564.02, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 2.12 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 EPS for the quarter, missing the Zacks’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.89 earnings per share. equities analysts expect that Amgen will post 13.28 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 3.08%. Amgen’s payout ratio is 41.97%.

Amgen declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $189.75, for a total value of $289,368.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,575 shares of company stock worth $818,330 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in shares of Amgen by 3,664.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after purchasing an additional 3,601,087 shares during the period. FMR LLC lifted its stake in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after purchasing an additional 2,587,041 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Amgen by 382.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,389,775 shares of the medical research company’s stock valued at $241,682,000 after purchasing an additional 1,101,649 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Amgen by 40.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after purchasing an additional 986,700 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after purchasing an additional 806,119 shares during the period. Hedge funds and other institutional investors own 79.54% of the company’s stock.

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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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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