Amgen Inc. (NASDAQ:AMGN) Sees Significant Decrease in Short Interest

Amgen Inc. (NASDAQ:AMGN) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totalling 9,240,000 shares, a drop of 5.6% from the July 31st total of 9,790,000 shares. Based on an average trading volume of 2,170,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 1.7% of the company’s stock are sold short.

Amgen Trading Up 0.9 %

Shares of AMGN stock opened at $333.83 on Tuesday. The stock has a 50 day simple moving average of $325.31 and a 200-day simple moving average of $301.17. Amgen has a 1-year low of $248.38 and a 1-year high of $346.85. The company has a market cap of $179.08 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 2.96 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $5.00 earnings per share. On average, equities research analysts expect that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.70%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMGN. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

Hedge Funds Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Strategic Financial Concepts LLC purchased a new position in Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC purchased a new position in shares of Amgen in the first quarter worth about $28,000. United Community Bank acquired a new position in Amgen during the fourth quarter worth about $29,000. Delos Wealth Advisors LLC grew its stake in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.