Amgen (NASDAQ:AMGN) Upgraded at Citigroup

Citigroup upgraded shares of Amgen (NASDAQ:AMGN) to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Barclays boosted 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Down 4.2 %

Shares of NASDAQ AMGN opened at $283.61 on Wednesday. The company has a market cap of $152.45 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.69 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen has a 12 month low of $260.52 and a 12 month high of $346.85. The stock has a 50-day moving average price of $321.59 and a two-hundred day moving average price of $318.00.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 business 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%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 EPS. As a group, analysts forecast that Amgen will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed 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. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the 2nd quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. Finally, nVerses Capital LLC purchased a new position in shares of Amgen in the 2nd quarter worth approximately $31,000. Institutional investors own 76.50% of the company’s stock.

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.