Amgen (NASDAQ:AMGN) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Amgen (NASDAQ:AMGN) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on AMGN. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada increased their target price on shares of Amgen from $360.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Wells Fargo & Company increased their target price on shares of Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amgen from $285.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group increased their target price on shares of Amgen from $415.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $357.12.

Amgen Stock Down 0.7%

AMGN opened at $328.91 on Thursday. The company has a 50 day moving average of $355.12 and a 200 day moving average of $341.81. The company has a market cap of $177.51 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 3.33 and a beta of 0.44. Amgen has a 12 month low of $261.43 and a 12 month high of $391.29. The company has a current ratio of 1.26, a quick ratio of 0.90 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts expect that Amgen will post 22.36 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s dividend payout ratio (DPR) is 70.15%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amgen

Large investors have recently modified their holdings of the stock. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC boosted its stake in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Tower View Wealth Management LLC boosted its stake in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.