Investors Buy Shares of Amgen (AMGN) on Weakness

Share on StockTwits

Investors bought shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading hours on Monday. $112.90 million flowed into the stock on the tick-up and $70.90 million flowed out of the stock on the tick-down, for a money net flow of $42.00 million into the stock. Of all companies tracked, Amgen had the 27th highest net in-flow for the day. Amgen traded down ($1.06) for the day and closed at $183.95

Several brokerages have weighed in on AMGN. BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Monday. Cann restated a “buy” rating on shares of Amgen in a research report on Friday, June 8th. Mizuho dropped coverage on shares of Amgen in a research report on Tuesday, June 5th. TheStreet upgraded shares of Amgen from a “c+” rating to a “b-” rating in a research report on Friday, May 25th. Finally, Morgan Stanley lowered their target price on shares of Amgen from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Amgen has an average rating of “Hold” and a consensus price target of $193.08.

The stock has a market cap of $121.72 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.30 and a beta of 1.38. The company has a current ratio of 3.88, a quick ratio of 3.60 and a debt-to-equity ratio of 2.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.23. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.15 earnings per share. research analysts expect that Amgen, Inc. will post 13.59 EPS for the current fiscal year.

In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $174.10, for a total transaction of $265,502.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 4,575 shares of company stock worth $809,851 in the last three months. Insiders own 0.27% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Community Bank & Trust Waco Texas raised its stake in Amgen by 7.7% during the fourth quarter. Community Bank & Trust Waco Texas now owns 3,930 shares of the medical research company’s stock worth $683,000 after purchasing an additional 281 shares during the period. Timber Creek Capital Management LLC raised its stake in Amgen by 1.6% during the fourth quarter. Timber Creek Capital Management LLC now owns 18,672 shares of the medical research company’s stock worth $3,247,000 after purchasing an additional 285 shares during the period. Lee Danner & Bass Inc. raised its stake in Amgen by 0.9% during the fourth quarter. Lee Danner & Bass Inc. now owns 33,524 shares of the medical research company’s stock worth $5,830,000 after purchasing an additional 290 shares during the period. BB&T Corp raised its stake in Amgen by 0.3% during the fourth quarter. BB&T Corp now owns 92,405 shares of the medical research company’s stock worth $16,069,000 after purchasing an additional 294 shares during the period. Finally, Stanley Laman Group Ltd. raised its stake in Amgen by 8.3% during the first quarter. Stanley Laman Group Ltd. now owns 3,985 shares of the medical research company’s stock worth $679,000 after purchasing an additional 306 shares during the period. 78.27% of the stock is currently owned by institutional investors and hedge funds.

Amgen Company Profile

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.

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply