Amgen Inc. (NASDAQ:AMGN) Given Average Rating of "Hold" by Analysts

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have been given an average recommendation of "Hold" by the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $314.00.

Several brokerages recently commented on AMGN. UBS Group cut their price objective on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Piper Sandler cut their price target on shares of Amgen from $344.00 to $310.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, November 12th. Citigroup cut their target price on Amgen from $310.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. Finally, Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th.

Amgen Stock Up 0.5 %

Shares of AMGN traded up $1.40 during mid-day trading on Friday, reaching $285.42. The company had a trading volume of 3,799,348 shares, compared to its average volume of 2,746,697. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.56. The firm has a 50-day moving average price of $271.06 and a 200 day moving average price of $304.33. Amgen has a 52 week low of $253.30 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company's quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.96 earnings per share. On average, sell-side analysts forecast that Amgen will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.34%. Amgen's dividend payout ratio is presently 121.90%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC boosted its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock valued at $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. Van ECK Associates Corp boosted its holdings in Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock worth $270,699,000 after buying an additional 753,147 shares during the period. Finally, Nordea Investment Management AB increased its stake in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after buying an additional 676,598 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other 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.