Amgen (AMGN) Rating Reiterated by JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Amgen (NASDAQ:AMGN) in a report published on Wednesday, January 30th. The brokerage currently has a $190.00 price target on the medical research company’s stock.

AMGN has been the topic of several other research reports. Oppenheimer reissued a buy rating and issued a $224.00 target price on shares of Amgen in a research note on Tuesday, October 2nd. Morgan Stanley increased their target price on shares of Amgen from $210.00 to $212.00 and gave the company an overweight rating in a research note on Thursday, October 11th. Goldman Sachs Group set a $232.00 target price on shares of Amgen and gave the company a buy rating in a research note on Monday, December 10th. Cantor Fitzgerald reissued a neutral rating and issued a $223.00 target price on shares of Amgen in a research note on Tuesday, December 4th. Finally, BidaskClub raised shares of Amgen from a buy rating to a strong-buy rating in a research note on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Amgen has a consensus rating of Hold and a consensus target price of $205.77.

Shares of AMGN opened at $188.98 on Wednesday. Amgen has a twelve month low of $163.31 and a twelve month high of $210.19. The firm has a market capitalization of $119.31 billion, a PE ratio of 13.12, a PEG ratio of 2.06 and a beta of 1.21. The company has a current ratio of 2.79, a quick ratio of 2.57 and a debt-to-equity ratio of 2.36.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, January 29th. The medical research company reported $3.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.26 by $0.16. Amgen had a net margin of 35.35% and a return on equity of 66.74%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm posted $2.89 earnings per share. On average, equities research analysts predict that Amgen will post 13.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio (DPR) is currently 36.67%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $190.00, for a total transaction of $380,000.00. Following the transaction, the director now directly owns 14,988 shares in the company, valued at approximately $2,847,720. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tyler Jacks sold 20,000 shares of the stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $195.41, for a total transaction of $3,908,200.00. Following the transaction, the director now owns 28,979 shares in the company, valued at $5,662,786.39. The disclosure for this sale can be found here. Insiders sold a total of 23,777 shares of company stock worth $4,648,718 in the last ninety days. 0.27% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. City Holding Co. boosted its holdings in shares of Amgen by 0.3% in the 4th quarter. City Holding Co. now owns 18,015 shares of the medical research company’s stock valued at $3,506,000 after buying an additional 50 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Amgen by 2.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 1,992 shares of the medical research company’s stock valued at $388,000 after buying an additional 50 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its holdings in shares of Amgen by 1.8% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 3,321 shares of the medical research company’s stock valued at $646,000 after buying an additional 58 shares in the last quarter. Hudson Capital Management LLC boosted its holdings in shares of Amgen by 0.7% in the 4th quarter. Hudson Capital Management LLC now owns 8,192 shares of the medical research company’s stock valued at $1,595,000 after buying an additional 59 shares in the last quarter. Finally, Deane Retirement Strategies Inc. boosted its holdings in shares of Amgen by 0.6% in the 4th quarter. Deane Retirement Strategies Inc. now owns 9,838 shares of the medical research company’s stock valued at $1,915,000 after buying an additional 60 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

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.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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