Amgen Inc. (NASDAQ:AMGN) Receives $309.42 Consensus Target Price from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN) have been given a consensus recommendation of “Hold” by the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $309.4211.

Several research firms have commented on AMGN. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley boosted their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Finally, Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Highline Wealth Partners LLC lifted its holdings in shares of Amgen by 1.7% during the third quarter. Highline Wealth Partners LLC now owns 4,171 shares of the medical research company’s stock valued at $1,177,000 after purchasing an additional 69 shares in the last quarter. Welch Group LLC lifted its holdings in shares of Amgen by 27.4% during the third quarter. Welch Group LLC now owns 1,092 shares of the medical research company’s stock valued at $308,000 after purchasing an additional 235 shares in the last quarter. True North Advisors LLC lifted its holdings in shares of Amgen by 63.6% during the third quarter. True North Advisors LLC now owns 1,644 shares of the medical research company’s stock valued at $464,000 after purchasing an additional 639 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of Amgen by 3.0% during the third quarter. OLD National Bancorp IN now owns 18,544 shares of the medical research company’s stock valued at $5,233,000 after purchasing an additional 540 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Amgen by 1.6% during the third quarter. Trust Co. of Vermont now owns 22,620 shares of the medical research company’s stock valued at $6,383,000 after purchasing an additional 361 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $293.85 on Wednesday. The stock has a market cap of $158.20 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.54 and a beta of 0.49. The business’s fifty day moving average is $286.46 and its 200 day moving average is $287.37. Amgen has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the company posted $4.97 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is presently 77.84%.

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.