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Amgen Inc (AMGN): Today's Featured Health Care Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Amgen (AMGN) pushed the Health Care sector lower today making it today's featured Health Care laggard. The sector as a whole closed the day up 0.2%. By the end of trading, Amgen fell $1.65 (-1.6%) to $104.83 on light volume. Throughout the day, 2,381,076 shares of Amgen exchanged hands as compared to its average daily volume of 4,891,300 shares. The stock ranged in price between $104.68-$106.13 after having opened the day at $106.08 as compared to the previous trading day's close of $106.48. Other companies within the Health Care sector that declined today were: Spherix (SPEX), down 12.6%, Nymox Pharmaceutical Corporation (NYMX), down 7.8%, Transcept Pharmaceuticals (TSPT), down 7.4% and AVEO Pharmaceuticals (AVEO), down 7.1%.

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Amgen Inc., a biotechnology medicines company, engages in the discovery, development, manufacture, and marketing of human therapeutic products in the areas of supportive cancer care, inflammation, nephrology, and bone diseases primarily in the United States, Europe, and Canada. Amgen has a market cap of $79.1 billion and is part of the drugs industry. The company has a P/E ratio of 18.0, above the S&P 500 P/E ratio of 17.7. Shares are up 22.5% year to date as of the close of trading on Friday. Currently there are 11 analysts that rate Amgen a buy, no analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

On the positive front, Idera Pharmaceuticals (IDRA), down 13.9%, Galena Biopharma (GALE), down 11.7%, Synthetic Biologics (SYN), down 10.7% and Prima Biomed (PBMD), down 10.6% , were all gainers within the health care sector with Covidien (COV) being today's featured health care sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health care sector could consider Health Care Select Sector SPDR (XLV) while those bearish on the health care sector could consider ProShares Ultra Short Health Care (RXD).

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