Traders Buy Shares of Amgen (AMGN) on Weakness

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Traders purchased shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading hours on Friday. $449.23 million flowed into the stock on the tick-up and $269.71 million flowed out of the stock on the tick-down, for a money net flow of $179.52 million into the stock. Of all companies tracked, Amgen had the 6th highest net in-flow for the day. Amgen traded down ($5.00) for the day and closed at $177.47

A number of equities research analysts have recently weighed in on AMGN shares. Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a research note on Monday. Citigroup boosted their target price on Amgen from $204.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, January 4th. Goldman Sachs Group reissued a “buy” rating and issued a $232.00 target price on shares of Amgen in a research note on Thursday, January 17th. Oppenheimer set a $224.00 target price on Amgen and gave the company a “buy” rating in a research note on Sunday, January 27th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research note on Friday, February 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $209.11.

The firm has a market cap of $109.31 billion, a PE ratio of 12.32, a PEG ratio of 2.34 and a beta of 1.21. The company has a quick ratio of 2.57, a current ratio of 2.79 and a debt-to-equity ratio of 2.36.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, January 29th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.16. Amgen had a return on equity of 66.74% and a net margin of 35.35%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the previous year, the business earned $2.89 EPS. On average, analysts forecast that Amgen, Inc. will post 13.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $1.45 per share. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a yield of 3.27%. Amgen’s dividend payout ratio is presently 40.28%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $190.00, for a total transaction of $380,000.00. Following the transaction, the director now owns 14,988 shares in the company, valued at approximately $2,847,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 6,000 shares of company stock worth $1,144,120. 0.27% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of AMGN. Blue Fin Capital Inc. lifted its position in Amgen by 10.0% in the third quarter. Blue Fin Capital Inc. now owns 7,449 shares of the medical research company’s stock worth $1,544,000 after purchasing an additional 677 shares during the period. Vident Investment Advisory LLC raised its stake in Amgen by 135.5% during the third quarter. Vident Investment Advisory LLC now owns 5,238 shares of the medical research company’s stock worth $1,086,000 after acquiring an additional 3,014 shares in the last quarter. Macquarie Group Ltd. raised its stake in Amgen by 6.5% during the third quarter. Macquarie Group Ltd. now owns 168,607 shares of the medical research company’s stock worth $34,952,000 after acquiring an additional 10,237 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Amgen during the third quarter worth $7,108,000. Finally, Neuberger Berman Group LLC raised its stake in Amgen by 3.9% during the third quarter. Neuberger Berman Group LLC now owns 154,783 shares of the medical research company’s stock worth $32,085,000 after acquiring an additional 5,836 shares in the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.

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About Amgen (NASDAQ:AMGN)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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