UBS Group Boosts Amgen (NASDAQ:AMGN) Price Target to $319.00

Amgen (NASDAQ:AMGN - Free Report) had its price target upped by UBS Group from $315.00 to $319.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the medical research company's stock.

A number of other research analysts also recently issued reports on AMGN. Royal Bank of Canada restated an "outperform" rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler upped their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Piper Sandler Companies reissued an "overweight" rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Citigroup restated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $314.91.

Amgen Stock Down 1.9 %

AMGN stock traded down $5.35 during mid-day trading on Monday, hitting $277.29. 4,371,822 shares of the company were exchanged, compared to its average volume of 2,796,109. The firm has a fifty day simple moving average of $303.04 and a 200 day simple moving average of $294.22. The company has a market capitalization of $149.09 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. Amgen has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, research analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is presently 126.09%.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 over the last three months. Company insiders own 0.69% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Beck Mack & Oliver LLC raised its position in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after acquiring an additional 34 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its position in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after buying an additional 35 shares during the last quarter. Blossom Wealth Management raised its holdings in Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after buying an additional 37 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its stake in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after acquiring an additional 37 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

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.