Amgen Inc. (NASDAQ:AMGN) Receives Consensus Recommendation of “Hold” from Brokerages

Amgen Inc. (NASDAQ:AMGN) has earned a consensus rating of “Hold” from the twenty-four analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $314.04.

Several research analysts have recently issued reports on the stock. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd.

Insider Activity

In related news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently modified their holdings of AMGN. Swedbank AB raised its holdings in shares of Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the last quarter. Quest Partners LLC increased its position in Amgen by 1,568.7% during the 3rd quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock worth $618,000 after purchasing an additional 1,804 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Amgen by 4.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 14,844 shares of the medical research company’s stock valued at $4,783,000 after purchasing an additional 626 shares during the last quarter. LPL Financial LLC lifted its holdings in Amgen by 0.7% in the 3rd quarter. LPL Financial LLC now owns 751,945 shares of the medical research company’s stock valued at $242,284,000 after purchasing an additional 4,999 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Amgen by 7.4% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 41,548 shares of the medical research company’s stock worth $13,387,000 after purchasing an additional 2,871 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.3 %

Shares of Amgen stock opened at $316.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a 50 day moving average of $297.24 and a 200 day moving average of $299.02.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.