Amgen (NASDAQ:AMGN) had its price target upped by Jefferies Financial Group from $285.00 to $300.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the medical research company’s stock. Jefferies Financial Group also issued estimates for Amgen’s Q3 2020 earnings at $3.66 EPS, Q4 2020 earnings at $3.47 EPS, FY2020 earnings at $15.56 EPS, Q1 2021 earnings at $4.19 EPS, Q2 2021 earnings at $4.16 EPS, Q3 2021 earnings at $4.14 EPS, Q4 2021 earnings at $4.01 EPS, FY2021 earnings at $16.50 EPS, FY2022 earnings at $17.95 EPS and FY2023 earnings at $19.34 EPS.
A number of other research analysts also recently commented on AMGN. Cantor Fitzgerald boosted their target price on Amgen from $263.00 to $279.00 and gave the company an overweight rating in a research note on Wednesday. Wells Fargo & Co increased their price objective on Amgen from $220.00 to $237.00 and gave the stock an equal weight rating in a report on Friday, May 1st. Cfra lifted their target price on shares of Amgen from $223.00 to $259.00 and gave the company a buy rating in a research note on Friday, May 1st. Zacks Investment Research raised shares of Amgen from a hold rating to a buy rating and set a $240.00 target price for the company in a research report on Wednesday, April 15th. Finally, Mizuho restated a hold rating and set a $215.00 price target on shares of Amgen in a report on Thursday, April 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $253.15.
AMGN stock opened at $244.67 on Wednesday. The firm has a 50 day simple moving average of $244.08 and a 200 day simple moving average of $227.31. Amgen has a 52 week low of $177.05 and a 52 week high of $264.97. The stock has a market cap of $143.93 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.08 and a beta of 0.94. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.28 and a current ratio of 2.18.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 17th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $6.40 annualized dividend and a dividend yield of 2.62%. Amgen’s payout ratio is 43.18%.
In related news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the completion of the transaction, the director now directly owns 5,834 shares of the company’s stock, valued at $1,384,466.54. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $229.27, for a total transaction of $229,270.00. Following the sale, the director now owns 16,482 shares in the company, valued at approximately $3,778,828.14. The disclosure for this sale can be found here. Insiders have sold 3,425 shares of company stock valued at $818,457 in the last ninety days. 0.36% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in AMGN. Pure Financial Advisors Inc. increased its stake in Amgen by 2.8% in the second quarter. Pure Financial Advisors Inc. now owns 1,469 shares of the medical research company’s stock valued at $346,000 after acquiring an additional 40 shares during the period. Price Wealth LLC grew its stake in shares of Amgen by 42.9% in the 2nd quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 42 shares during the period. FCG Advisors LLC raised its holdings in shares of Amgen by 3.8% in the 2nd quarter. FCG Advisors LLC now owns 1,162 shares of the medical research company’s stock worth $274,000 after buying an additional 42 shares in the last quarter. Center for Financial Planning Inc. raised its holdings in shares of Amgen by 5.7% in the 1st quarter. Center for Financial Planning Inc. now owns 793 shares of the medical research company’s stock worth $161,000 after buying an additional 43 shares in the last quarter. Finally, Community Trust & Investment Co. lifted its position in shares of Amgen by 2.7% during the 2nd quarter. Community Trust & Investment Co. now owns 1,757 shares of the medical research company’s stock worth $414,000 after buying an additional 46 shares during the period. 75.73% of the stock is owned by institutional investors.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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