Amgen Inc. (NASDAQ:AMGN) Receives Average Rating of “Hold” from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned an average rating of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $309.4211.

AMGN has been the subject of a number of research reports. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Piper Sandler raised their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Finally, Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amgen

Large investors have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $27,000. Finally, Activest Wealth Management grew its stake in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

AMGN opened at $290.13 on Wednesday. The stock has a market cap of $156.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.52 and a beta of 0.49. Amgen has a 1 year low of $253.30 and a 1 year high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a fifty day moving average price of $286.77 and a 200 day moving average price of $287.43.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

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.