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

Shares of Amgen Inc. (NASDAQ:AMGN) have earned an average recommendation of “Hold” from the twenty-four ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $314.04.

A number of research firms have weighed in on AMGN. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America increased their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th.

Insider Activity at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently modified their holdings of AMGN. Beck Mack & Oliver LLC increased its stake in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC increased its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after buying an additional 35 shares during the period. Blossom Wealth Management lifted its holdings in Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares in the last quarter. Zullo Investment Group Inc. boosted its position in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after buying an additional 37 shares during the period. Finally, Trillium Asset Management LLC grew its stake in shares of Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $316.04 on Friday. The firm has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a PEG ratio of 2.63 and a beta of 0.53. The stock has a 50-day simple moving average of $297.24 and a two-hundred day simple moving average of $299.02. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts forecast that Amgen will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

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.