Amgen Inc. (NASDAQ:AMGN) Receives $314.91 Consensus PT from Analysts

Amgen Inc. (NASDAQ:AMGN) has been given an average recommendation of “Hold” by the twenty-three research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $314.91.

AMGN has been the topic of several recent analyst reports. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. UBS Group lifted their price objective on shares of Amgen from $315.00 to $319.00 and gave the company a “neutral” rating in a research note on Monday, April 14th. Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th.

Amgen Stock Down 1.9 %

NASDAQ AMGN opened at $277.29 on Wednesday. The stock has a market cap of $149.09 billion, a PE ratio of 36.73, a P/E/G ratio of 2.63 and a beta of 0.59. The business has a 50 day moving average price of $303.04 and a two-hundred day moving average price of $293.88. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, sell-side analysts predict that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.43%. Amgen’s payout ratio is currently 126.09%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

Large investors have recently modified their holdings of the company. Talbot Financial LLC increased its position in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after buying an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC increased its holdings in shares of Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after purchasing an additional 16,985 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.