Amgen (NASDAQ:AMGN) Given New $360.00 Price Target at TD Cowen

Amgen (NASDAQ:AMGN) had its target price decreased by TD Cowen from $370.00 to $360.00 in a research report sent to investors on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the medical research company’s stock.

Several other research analysts also recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Amgen from $281.00 to $278.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada restated an outperform rating and issued a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. UBS Group lowered their price target on Amgen from $315.00 to $314.00 and set a neutral rating on the stock in a report on Monday, January 29th. Daiwa Capital Markets raised Amgen from a neutral rating to a buy rating and upped their price target for the company from $264.00 to $320.00 in a research report on Thursday, December 21st. Finally, Oppenheimer restated an outperform rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Amgen has an average rating of Moderate Buy and an average price target of $298.38.

Amgen Price Performance

NASDAQ AMGN opened at $264.07 on Wednesday. The stock has a market capitalization of $141.52 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The business’s fifty day moving average is $277.99 and its two-hundred day moving average is $281.37. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, research analysts forecast that Amgen will post 19.47 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.41%. Amgen’s dividend payout ratio is 72.06%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMGN. Roundview Capital LLC increased its position in shares of Amgen by 1.3% during the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares during the period. Merit Financial Group LLC lifted its stake in Amgen by 39.2% during the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after purchasing an additional 647 shares during the period. Ergoteles LLC acquired a new stake in Amgen during the first quarter valued at approximately $219,000. First Western Trust Bank acquired a new stake in Amgen during the first quarter valued at approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds 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.