Amgen Inc. (NASDAQ:AMGN) Receives $333.57 Consensus Price Target from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have received an average recommendation of "Hold" from the twenty-six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $333.57.

Several brokerages recently weighed in on AMGN. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday, October 17th. They issued an "outperform" rating and a $380.00 target price for the company. Citigroup initiated coverage on Amgen in a research note on Thursday. They set a "neutral" rating and a $335.00 target price on the stock. Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Dbs Bank raised shares of Amgen to a "strong-buy" rating in a report on Monday, September 16th.

Institutional Investors Weigh In On Amgen

Several large investors have recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter worth $25,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the second quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Amgen in the third quarter worth about $29,000. nVerses Capital LLC bought a new position in Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter valued at about $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN traded down $12.32 during mid-day trading on Friday, hitting $283.61. 5,325,131 shares of the company traded hands, compared to its average volume of 2,323,978. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock's fifty day moving average price is $320.85 and its 200-day moving average price is $318.36. The firm has a market cap of $152.45 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts anticipate that Amgen will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen's dividend payout ratio is presently 115.24%.

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.