Traders Sell Amgen (AMGN) on Strength (AMGN)

Traders sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading hours on Tuesday. $145.87 million flowed into the stock on the tick-up and $246.93 million flowed out of the stock on the tick-down, for a money net flow of $101.06 million out of the stock. Of all companies tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $0.89 for the day and closed at $189.08

A number of equities analysts have recently weighed in on AMGN shares. Cann reissued a “buy” rating and issued a $224.00 price target on shares of Amgen in a report on Monday, July 30th. Oppenheimer reissued a “buy” rating and issued a $224.00 price target on shares of Amgen in a report on Tuesday, August 28th. Mizuho reissued a “buy” rating and issued a $200.00 price target on shares of Amgen in a report on Friday, July 27th. Goldman Sachs Group reissued a “buy” rating and issued a $228.00 price target on shares of Amgen in a report on Friday, July 27th. Finally, Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $234.00 price target for the company in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $205.16.

The company has a market cap of $120.38 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.40. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.45 by $0.24. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.27 earnings per share. As a group, research analysts expect that Amgen, Inc. will post 14.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 annualized dividend and a yield of 2.79%. Amgen’s payout ratio is currently 41.97%.

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Amgen by 1.4% during the first quarter. Principal Financial Group Inc. now owns 1,187,759 shares of the medical research company’s stock worth $202,489,000 after acquiring an additional 15,948 shares during the last quarter. Cardinal Capital Management Inc. increased its stake in Amgen by 22.2% during the second quarter. Cardinal Capital Management Inc. now owns 82,900 shares of the medical research company’s stock worth $15,303,000 after acquiring an additional 15,035 shares during the last quarter. First Financial Bank Trust Division increased its stake in Amgen by 47.4% during the second quarter. First Financial Bank Trust Division now owns 2,102 shares of the medical research company’s stock worth $388,000 after acquiring an additional 676 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Amgen by 2.3% during the second quarter. Gulf International Bank UK Ltd now owns 217,679 shares of the medical research company’s stock worth $40,181,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Abner Herrman & Brock LLC increased its stake in Amgen by 1.5% during the second quarter. Abner Herrman & Brock LLC now owns 52,841 shares of the medical research company’s stock worth $9,754,000 after acquiring an additional 802 shares during the last quarter. Institutional investors own 82.37% of the company’s stock.

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, 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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