Amgen Inc. (NASDAQ:AMGN) Receives Average Rating of “Hold” from Analysts

Amgen Inc. (NASDAQ:AMGN) has been assigned an average rating of “Hold” from the twenty-seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $314.00.

Several equities analysts have issued reports on the stock. Citigroup dropped their price objective on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Wolfe Research initiated coverage on shares of Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th.

Institutional Trading of Amgen

A number of hedge funds have recently made changes to their positions in AMGN. Cadinha & Co. LLC raised its holdings in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. Lansing Street Advisors increased its stake in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the last quarter. Unionview LLC lifted its position in Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after buying an additional 32 shares in the last quarter. Traveka Wealth LLC boosted its stake in shares of Amgen by 4.3% during the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after buying an additional 33 shares during the last quarter. Finally, AM Investment Strategies LLC increased its position in shares of Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.8 %

AMGN opened at $284.02 on Friday. The stock has a market capitalization of $152.67 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. 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 one year low of $253.30 and a one year high of $346.85. The business’s 50-day simple moving average is $271.35 and its 200-day simple moving average is $304.99.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 EPS. Analysts anticipate that Amgen will post 19.56 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.35%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.