Amgen (NASDAQ:AMGN) PT Raised to $383.00

Amgen (NASDAQ:AMGN) had its target price lifted by TD Cowen from $381.00 to $383.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other analysts have also recently issued reports on AMGN. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Finally, Morgan Stanley reduced their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Price Performance

Amgen stock opened at $315.69 on Monday. The company has a fifty day simple moving average of $325.77 and a 200-day simple moving average of $313.12. The firm has a market capitalization of $169.35 billion, a price-to-earnings ratio of 45.10, a PEG ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.00 EPS. On average, equities analysts anticipate that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.85%. Amgen’s payout ratio is currently 128.57%.

Institutional Trading of Amgen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth approximately $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. 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.