Analysts Set Amgen Inc. (NASDAQ:AMGN) Price Target at $332.85

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $332.85.

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Amgen in a research report on Tuesday, November 25th. Cantor Fitzgerald increased their target price on shares of Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. BMO Capital Markets raised their price target on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th.

Insider Transactions at Amgen

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC grew its stake in shares of Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after buying an additional 6,676,575 shares during the last quarter. Norges Bank bought a new stake in shares of Amgen in the 2nd quarter valued at about $1,663,726,000. Capital World Investors boosted its holdings in Amgen by 11.5% during the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock valued at $5,303,578,000 after acquiring an additional 1,935,876 shares during the period. National Bank of Canada FI grew its position in Amgen by 237.7% during the 3rd quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company’s stock worth $346,076,000 after acquiring an additional 863,216 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $332.93 on Monday. The company has a market capitalization of $179.28 billion, a PE ratio of 25.73, a PEG ratio of 3.10 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45. The stock’s 50 day moving average price is $322.98 and its 200-day moving average price is $301.63. Amgen has a twelve month low of $257.05 and a twelve month high of $346.38.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period last year, the business posted $5.58 earnings per share. Amgen’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, equities analysts anticipate that Amgen will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is currently 73.57%.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.