Amgen (NASDAQ:AMGN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Amgen (NASDAQ:AMGN) in a report released on Tuesday morning, Benzinga reports. They currently have a $405.00 target price on the medical research company’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. TD Cowen upped their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Trading Up 0.3 %

NASDAQ AMGN opened at $315.69 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The business has a fifty day simple moving average of $325.77 and a 200 day simple moving average of $313.12. Amgen has a 12 month low of $249.70 and a 12 month high of $346.85. The firm has a market capitalization of $169.35 billion, a P/E ratio of 45.10, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.00 earnings per share. On average, analysts predict that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Institutional Investors Weigh In On Amgen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in Amgen during the 2nd quarter valued at $31,000. Bbjs Financial Advisors LLC bought a new stake in Amgen in the 2nd quarter worth $33,000. Finally, Matrix Trust Co purchased a new position in shares of Amgen in the third quarter valued at about $36,000. Institutional investors own 76.50% of the company’s stock.

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.