Amgen Inc. (NASDAQ:AMGN) Receives $333.57 Consensus PT from Analysts

Amgen Inc. (NASDAQ:AMGN) has been assigned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $333.57.

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company.

Amgen Trading Up 0.4 %

AMGN opened at $279.95 on Friday. The firm has a market cap of $150.48 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen has a 52 week low of $260.52 and a 52 week high of $346.85. The business’s 50 day moving average is $318.92 and its two-hundred day moving average is $318.43. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.21%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. M&G Plc purchased a new stake in Amgen during the 1st quarter worth about $7,633,000. Patten & Patten Inc. TN raised its position in shares of Amgen by 4.6% in the first quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company’s stock valued at $883,000 after buying an additional 136 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Amgen by 218.0% in the first quarter. Edgestream Partners L.P. now owns 12,434 shares of the medical research company’s stock valued at $3,535,000 after buying an additional 8,524 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Amgen by 44.3% during the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company’s stock valued at $398,000 after buying an additional 430 shares during the period. Finally, Trustmark National Bank Trust Department boosted its position in Amgen by 6.5% during the first quarter. Trustmark National Bank Trust Department now owns 31,204 shares of the medical research company’s stock worth $8,872,000 after acquiring an additional 1,909 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.