Amgen (NASDAQ:AMGN) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Amgen (NASDAQ:AMGN) in a research report released on Friday, MarketBeat Ratings reports. The firm issued a peer perform rating on the medical research company’s stock.

Other analysts also recently issued research reports about the company. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays raised their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Performance

AMGN stock opened at $283.61 on Friday. The stock’s fifty day moving average is $320.85 and its two-hundred day moving average is $318.65. The stock has a market capitalization of $152.45 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 2.53 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a 1 year low of $260.52 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the firm earned $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, research analysts predict that Amgen will post 19.51 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently modified their holdings of the business. M&G Plc bought a new stake in Amgen during the first quarter worth approximately $7,633,000. Intech Investment Management LLC boosted its holdings in shares of Amgen by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 35,673 shares of the medical research company’s stock worth $10,143,000 after buying an additional 5,668 shares during the period. Alera Investment Advisors LLC acquired a new position in Amgen in the 1st quarter valued at $227,000. Patten & Patten Inc. TN raised its holdings in Amgen by 4.6% in the 1st quarter. Patten & Patten Inc. TN now owns 3,104 shares of the medical research company’s stock worth $883,000 after acquiring an additional 136 shares during the period. Finally, Edgestream Partners L.P. lifted its position in Amgen by 218.0% during the 1st quarter. Edgestream Partners L.P. now owns 12,434 shares of the medical research company’s stock worth $3,535,000 after acquiring an additional 8,524 shares during the last quarter. Institutional investors and hedge funds 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.