Amgen Inc. (NASDAQ:AMGN) Receives $333.57 Average PT from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have received an average rating of “Hold” from the twenty-six analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $333.57.

A number of research firms have recently commented on AMGN. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.

Hedge Funds Weigh In On Amgen

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in Amgen in the third quarter worth about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the 3rd quarter valued at approximately $29,000. Hershey Financial Advisers LLC bought a new position in Amgen during the second quarter worth $30,000. Finally, nVerses Capital LLC acquired a new position in Amgen in the second quarter worth $31,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $279.95 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market cap of $150.48 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.53 and a beta of 0.60. The stock’s 50-day moving average price is $318.92 and its two-hundred day moving average price is $318.43. Amgen has a 12-month low of $260.52 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that Amgen will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.21%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

About Amgen

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.