Amgen (NASDAQ:AMGN) Upgraded to “Outperform” by Evercore ISI

Evercore ISI upgraded shares of Amgen (NASDAQ:AMGN) from an in-line rating to an outperform rating in a research report report published on Tuesday, BenzingaRatingsTable reports.

A number of other analysts have also issued reports on the company. Leerink Swann lifted their price target on Amgen from $189.00 to $205.00 and gave the stock a market perform rating in a research note on Wednesday, October 30th. Cowen increased their price objective on Amgen from $253.00 to $277.00 and gave the company an outperform rating in a research note on Thursday, December 19th. Mizuho restated a hold rating and issued a $212.00 price objective on shares of Amgen in a report on Sunday, September 29th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Amgen in a research note on Sunday. Finally, Credit Suisse Group lifted their target price on shares of Amgen from $235.00 to $250.00 and gave the stock an outperform rating in a research note on Friday, December 13th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $236.42.

NASDAQ AMGN opened at $237.60 on Tuesday. Amgen has a twelve month low of $166.30 and a twelve month high of $244.99. The stock has a market capitalization of $143.49 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.09 and a beta of 1.11. The company has a current ratio of 2.89, a quick ratio of 2.59 and a debt-to-equity ratio of 2.54. The stock has a 50-day moving average of $239.07 and a 200 day moving average of $210.46.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.53 by $0.13. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.63 billion. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.69 EPS. Equities analysts predict that Amgen will post 14.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 14th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $6.40 dividend on an annualized basis and a yield of 2.69%. This is a positive change from Amgen’s previous quarterly dividend of $1.45. Amgen’s dividend payout ratio (DPR) is 40.28%.

In related news, EVP Jonathan P. Graham sold 9,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $230.54, for a total transaction of $2,074,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $215.45, for a total value of $91,566.25. Following the sale, the director now owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The disclosure for this sale can be found here. Insiders sold a total of 18,162 shares of company stock valued at $4,214,030 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AMGN. BlackRock Inc. increased its stake in shares of Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after acquiring an additional 1,585,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Amgen by 9.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,780,461 shares of the medical research company’s stock worth $512,383,000 after purchasing an additional 239,576 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Amgen by 7.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,353,360 shares of the medical research company’s stock worth $455,399,000 after purchasing an additional 154,094 shares in the last quarter. California Public Employees Retirement System grew its position in Amgen by 21.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,567,552 shares of the medical research company’s stock worth $303,337,000 after acquiring an additional 274,146 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of Amgen by 15.0% in the third quarter. Pictet Asset Management Ltd. now owns 1,494,377 shares of the medical research company’s stock valued at $289,177,000 after buying an additional 194,987 shares during the period. Institutional investors own 76.78% 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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