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

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned an average rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $295.30.

A number of research firms have commented on AMGN. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday. Daiwa Capital Markets raised shares of Amgen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. The Goldman Sachs Group raised their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley decreased their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th.

Amgen Trading Down 1.0 %

Shares of AMGN stock opened at $267.28 on Friday. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The company has a market cap of $143.24 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.52 and a beta of 0.58. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The firm has a fifty day moving average price of $280.76 and a 200-day moving average price of $281.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities analysts predict that Amgen will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.37%. Amgen’s dividend payout ratio is currently 72.06%.

Institutional Trading of Amgen

Institutional investors have recently bought and sold shares of the stock. Briaud Financial Planning Inc purchased a new stake in Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the 4th quarter worth about $29,000. United Community Bank bought a new stake in Amgen during the 4th quarter valued at about $29,000. Dagco Inc. purchased a new stake in Amgen in the 4th quarter valued at about $29,000. Finally, OFI Invest Asset Management purchased a new stake in Amgen in the 3rd quarter valued at about $26,000. 76.50% of the stock is currently owned by institutional investors.

About Amgen

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.