Amgen’s (AMGN) “Outperform” Rating Reaffirmed at William Blair

William Blair restated their outperform rating on shares of Amgen (NASDAQ:AMGN) in a research report sent to investors on Tuesday,RTT News reports.

Other equities analysts also recently issued reports about the stock. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Price Performance

AMGN stock opened at $295.93 on Tuesday. Amgen has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a market cap of $159.07 billion, a P/E ratio of 38.60, a PEG ratio of 2.67 and a beta of 0.60. The firm has a 50-day moving average of $322.15 and a 200 day moving average of $318.15. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Capital International Investors boosted its holdings in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.