Amgen (NASDAQ:AMGN) Now Covered by Analysts at Sanford C. Bernstein

Equities research analysts at Sanford C. Bernstein began coverage on shares of Amgen (NASDAQ:AMGN) in a research note issued on Monday, The Fly reports. The brokerage set an “outperform” rating on the medical research company’s stock.

A number of other equities analysts have also weighed in on AMGN. Piper Jaffray Companies lifted their price objective on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Mizuho reiterated a “hold” rating and issued a $212.00 price objective on shares of Amgen in a research report on Sunday, September 29th. Cantor Fitzgerald set a $230.00 price objective on shares of Amgen and gave the company a “hold” rating in a research report on Monday, September 30th. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Goldman Sachs Group set a $243.00 price objective on shares of Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $217.41.

NASDAQ:AMGN traded up $3.95 during midday trading on Monday, reaching $204.75. The stock had a trading volume of 504,778 shares, compared to its average volume of 2,230,583. The firm has a fifty day simple moving average of $199.53 and a two-hundred day simple moving average of $186.28. Amgen has a 12-month low of $166.30 and a 12-month high of $211.90. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The stock has a market cap of $119.15 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.58 and a beta of 1.11.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same period last year, the firm posted $3.83 EPS. Amgen’s quarterly revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen will post 14.31 earnings per share for the current fiscal year.

In other Amgen news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $2,990,141.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total transaction of $413,400.00. Following the sale, the director now owns 16,336 shares in the company, valued at $3,376,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,671,900 over the last 90 days. Insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. Princeton Global Asset Management LLC boosted its position in shares of Amgen by 13.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 3,091 shares of the medical research company’s stock worth $587,000 after buying an additional 363 shares in the last quarter. Diversified Trust Co boosted its position in shares of Amgen by 0.4% in the 1st quarter. Diversified Trust Co now owns 14,856 shares of the medical research company’s stock worth $2,822,000 after buying an additional 60 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in shares of Amgen by 2.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 11,863 shares of the medical research company’s stock worth $2,254,000 after buying an additional 317 shares in the last quarter. GYL Financial Synergies LLC boosted its position in shares of Amgen by 19.6% in the 1st quarter. GYL Financial Synergies LLC now owns 2,748 shares of the medical research company’s stock worth $522,000 after buying an additional 451 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Amgen by 24.3% in the 1st quarter. Advisory Services Network LLC now owns 19,643 shares of the medical research company’s stock worth $3,732,000 after buying an additional 3,836 shares in the last quarter. Institutional investors own 76.32% 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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