Insider Selling: Amgen, Inc. (AMGN) EVP Sells $269,665.75 in Stock

Amgen, Inc. (NASDAQ:AMGN) EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the sale, the executive vice president now owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amgen, Inc. (NASDAQ:AMGN) opened at $174.92 on Friday. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $128,762.02, a P/E ratio of 14.10, a P/E/G ratio of 2.57 and a beta of 1.36. Amgen, Inc. has a 12-month low of $145.12 and a 12-month high of $191.10.

Amgen (NASDAQ:AMGN) last announced 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. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. Amgen’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $3.02 earnings per share. equities analysts predict that Amgen, Inc. will post 12.66 EPS for the current year.

Amgen announced that its Board of Directors has approved 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed 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. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 41.63%.

Several research analysts have recently issued reports on the company. Goldman Sachs Group cut Amgen from a “conviction-buy” rating to a “buy” rating in a research note on Friday. Credit Suisse Group restated a “neutral” rating and issued a $186.00 price objective (up from $177.00) on shares of Amgen in a research note on Friday, September 29th. 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. Mizuho restated a “buy” rating and issued a $183.00 price objective (down from $195.00) on shares of Amgen in a research note on Monday, August 21st. Finally, Morgan Stanley reduced their price objective on Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Amgen has a consensus rating of “Hold” and an average target price of $190.22.

A number of institutional investors and hedge funds have recently modified their holdings of AMGN. Janus Henderson Group PLC grew its holdings in Amgen by 3,664.7% in the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after purchasing an additional 3,601,087 shares during the period. FMR LLC boosted its stake in shares of Amgen by 4.8% in the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after acquiring an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Amgen by 40.9% in the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after acquiring an additional 986,700 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Amgen by 1.9% in the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after acquiring an additional 909,689 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Amgen by 12.9% in the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after acquiring an additional 806,119 shares during the last quarter. 78.62% of the stock is currently owned by 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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