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Murdo Gordon, Executive Vice President of Global Commercial Operations at Amgen Inc . (NASDAQ:AMGN), recently sold a significant portion of the company's stock. According to a filing with the Securities and Exchange Commission, Gordon sold 8,771 shares of Amgen common stock on February 11, 2025. The shares were sold at an average price of $294.7947, with prices ranging from $294.6101 to $294.885 per share. This transaction totaled approximately $2.59 million. The sale comes as Amgen, a prominent player in the biotechnology industry with a market capitalization of $160 billion, trades near $297 per share, showing a 14% gain year-to-date.According to InvestingPro analysis, Amgen demonstrates strong financial health with consistently low price volatility and a solid dividend track record. InvestingPro subscribers have access to 10 more exclusive tips about Amgen's performance and outlook.
Following this sale, Gordon retains ownership of 44,186 shares of Amgen stock. This figure includes 773 Dividend Equivalents granted under the company's equity incentive plan, which are subject to a dividend reinvestment plan. These equivalents are credited to Gordon's unvested restricted stock units and will be paid out in Amgen common stock according to the vesting schedule. The company maintains a robust dividend program with a current yield of 3.2% and has raised its dividend for 14 consecutive years.
In other recent news, Amgen has been a subject of various analyst adjustments. Piper Sandler increased its price target for Amgen shares to $329, maintaining an Overweight rating. This adjustment came after a Virtual TSLP Day co-hosted by Piper Sandler, which provided insights into Amgen's strategy for expanding the use of Tezspire, a treatment for severe asthma.
On the other hand, Erste Group upgraded Amgen's stock from Hold to Buy, citing strong financial performance, higher operating margin, and return on equity compared to the sector average. The firm anticipates an upward trajectory in Amgen's sales and operating income in the forthcoming quarters.
RBC Capital Markets, however, reduced its price target for Amgen from $324 to $320, while retaining an Outperform rating. The decision was made following Amgen's recent financial report, which showcased earnings surpassing expectations for the fourth quarter of 2024.
Cantor Fitzgerald also adjusted its outlook on Amgen shares, reducing the price target from the previous $405.00 to $340.00. This revision follows a recent clinical hold placed on Amgen's AMG 513, a matter that has drawn industry attention due to the lack of details regarding the cause of the hold.
Lastly, Piper Sandler reiterated its Overweight rating on Amgen shares, maintaining a price target of $310.00 after engaging with Amgen's senior leadership and attending the company's analyst event. These recent developments reflect the ongoing evaluation of Amgen's performance and potential by various investment firms.
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