Traders Buy Shares of Amgen (AMGN) on Weakness

Traders purchased shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading on Thursday. $71.07 million flowed into the stock on the tick-up and $50.85 million flowed out of the stock on the tick-down, for a money net flow of $20.22 million into the stock. Of all stocks tracked, Amgen had the 22nd highest net in-flow for the day. Amgen traded down ($0.96) for the day and closed at $175.25

A number of research analysts have issued reports on the company. Royal Bank of Canada assumed coverage on Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective for the company. Bank of America upped their price objective on Amgen to $210.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Oppenheimer restated a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Mizuho restated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research note on Friday, October 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $196.00 price objective (up previously from $189.00) on shares of Amgen in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $189.94.

The firm has a market capitalization of $127,220.00, a price-to-earnings ratio of 15.83, a PEG ratio of 2.55 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter last year, the firm posted $3.02 EPS. The company’s revenue was down .7% compared to the same quarter last year. equities analysts forecast that Amgen, Inc. will post 12.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a $1.32 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $5.28 annualized dividend and a dividend yield of 3.01%. This is a boost from Amgen’s previous quarterly dividend of $1.15. Amgen’s dividend payout ratio (DPR) is presently 41.55%.

Amgen announced that its board has authorized a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,575 shares of company stock worth $1,509,339. Insiders own 0.19% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Financial Advisory Service Inc. raised its holdings in shares of Amgen by 0.3% during the 2nd quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after buying an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Amgen by 0.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after buying an additional 7 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Amgen by 0.3% during the 2nd quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after buying an additional 9 shares in the last quarter. Finally, Hudock Capital Group LLC raised its holdings in shares of Amgen by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after buying an additional 10 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

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About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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