Amgen (NASDAQ:AMGN) Given “Overweight” Rating at Piper Sandler Companies

Piper Sandler Companies reaffirmed their overweight rating on shares of Amgen (NASDAQ:AMGN) in a research report report published on Thursday morning,Stock Target Advisor reports. Piper Sandler Companies currently has a $310.00 price target on the medical research company’s stock.

A number of other equities research analysts also recently weighed in on AMGN. Bank of America restated an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $318.83.

Amgen Stock Down 0.5 %

Shares of NASDAQ:AMGN opened at $259.28 on Thursday. The company has a fifty day moving average of $285.75 and a 200-day moving average of $310.70. 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 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $139.37 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.91 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, equities analysts predict that Amgen will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.67%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 121.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ascent Group LLC boosted its position in Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. Cadinha & Co. LLC lifted its stake in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the last quarter. Lansing Street Advisors boosted its holdings in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC boosted its holdings in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its position in Amgen by 1.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 3,101 shares of the medical research company’s stock worth $969,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen 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.