Amgen Inc. (NASDAQ:AMGN) Receives $297.40 Average Target Price from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $305.05.

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Royal Bank of Canada cut their price objective on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research report on Friday. Raymond James started coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday.

Amgen Price Performance

NASDAQ AMGN opened at $311.29 on Wednesday. The business’s fifty day moving average price is $274.51 and its 200-day moving average price is $281.33. The stock has a market capitalization of $166.97 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.68 and a beta of 0.60. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm earned $3.98 EPS. On average, equities analysts predict that Amgen will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Amgen during the 3rd quarter worth about $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen in the 3rd quarter valued at about $26,000. Horizon Financial Services LLC acquired a new stake in Amgen in the 1st quarter valued at about $28,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen in the 4th quarter valued at about $29,000. Finally, United Community Bank acquired a new stake in Amgen in the 4th quarter valued at about $29,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

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.