BMO Capital Markets Boosts Amgen (NASDAQ:AMGN) Price Target to $355.00

Amgen (NASDAQ:AMGN) had its price target lifted by BMO Capital Markets from $336.00 to $355.00 in a research note published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the medical research company’s stock.

Several other research analysts also recently weighed in on the stock. UBS Group lowered their price objective on shares of Amgen from $314.00 to $284.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Truist Financial reissued a buy rating and issued a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a market perform rating for the company. SVB Leerink downgraded Amgen from an outperform rating to a market perform rating and cut their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $305.05.

Amgen Trading Up 11.8 %

NASDAQ:AMGN opened at $311.29 on Friday. Amgen has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock has a market capitalization of $166.97 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 3.01 and a beta of 0.60. The firm has a fifty day simple moving average of $274.95 and a two-hundred day simple moving average of $281.46.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same period in the previous year, the company posted $3.98 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. Analysts expect that Amgen will post 19.46 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Amgen

Large investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in Amgen in the third quarter worth $26,000. Briaud Financial Planning Inc bought a new stake in Amgen during the 3rd quarter valued at about $26,000. Horizon Financial Services LLC bought a new stake in shares of Amgen in the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the 4th quarter worth about $29,000. Finally, United Community Bank purchased a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. 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.