Amgen (NASDAQ:AMGN) Given New $284.00 Price Target at UBS Group

Amgen (NASDAQ:AMGN) had its price target cut by UBS Group from $314.00 to $284.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets raised shares of Amgen from a market perform rating to an outperform rating and increased their target price for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. Morgan Stanley decreased their price objective on Amgen from $281.00 to $278.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Oppenheimer reiterated an outperform rating and issued a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. The Goldman Sachs Group boosted their price target on shares of Amgen from $313.00 to $350.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Finally, TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a buy rating for the company in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $296.95.

Amgen Price Performance

Shares of Amgen stock opened at $264.07 on Wednesday. The company has a 50-day simple moving average of $277.99 and a two-hundred day simple moving average of $281.37. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72. The stock has a market capitalization of $141.52 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last issued 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 analysts’ expectations of $8.13 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts forecast that Amgen will post 19.46 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.41%. Amgen’s dividend payout ratio is 72.06%.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. Briaud Financial Planning Inc bought a new position in Amgen in the 3rd quarter worth about $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the fourth quarter worth $29,000. United Community Bank bought a new position in Amgen during the 4th quarter worth approximately $29,000. Dagco Inc. bought a new position in shares of Amgen in the fourth quarter worth approximately $29,000. Finally, OFI Invest Asset Management purchased a new position in shares of Amgen in the third quarter worth $26,000. 76.50% of the stock is currently owned by institutional investors.

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.