Credit Suisse Group Begins Coverage on Amgen (AMGN)

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Credit Suisse Group began coverage on shares of Amgen (NASDAQ:AMGN) in a note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the medical research company’s stock.

Other equities research analysts have also recently issued research reports about the company. Mizuho reaffirmed a “buy” rating and issued a $211.00 price target on shares of Amgen in a report on Wednesday, February 13th. BidaskClub cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 29th. Oppenheimer set a $224.00 price target on Amgen and gave the company a “buy” rating in a report on Sunday, January 27th. Cowen reaffirmed a “buy” rating and issued a $234.00 price target on shares of Amgen in a report on Tuesday, February 26th. Finally, Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $208.84.

Shares of NASDAQ:AMGN traded down $1.52 during midday trading on Monday, hitting $168.39. The company had a trading volume of 1,821,874 shares, compared to its average volume of 3,035,668. Amgen has a twelve month low of $166.30 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.53 and a current ratio of 2.77. The stock has a market cap of $102.71 billion, a PE ratio of 11.69, a P/E/G ratio of 2.24 and a beta of 1.15.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.45 by $0.11. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter last year, the firm earned $3.47 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts predict that Amgen will post 13.94 earnings per share for the current fiscal year.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $175.73, for a total transaction of $351,460.00. Following the completion of the sale, the director now owns 15,092 shares of the company’s stock, valued at $2,652,117.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 6,000 shares of company stock valued at $1,115,580. 0.25% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Mackey Komara & Dankovich LLC purchased a new position in shares of Amgen during the first quarter worth $25,000. Ruggie Capital Group boosted its holdings in Amgen by 297.1% in the fourth quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 101 shares during the period. Capital Financial Planning LLC purchased a new position in Amgen in the fourth quarter valued at $27,000. Massey Quick Simon & CO. LLC boosted its holdings in Amgen by 710.5% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 135 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in Amgen in the first quarter valued at $30,000. Institutional investors and hedge funds own 80.65% of the company’s stock.

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, 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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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