Amgen Inc. (NASDAQ:AMGN - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $261.19, but opened at $269.00. Amgen shares last traded at $264.46, with a volume of 1,736,690 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AMGN. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Robert W. Baird reiterated an "underperform" rating and set a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Truist Financial lowered shares of Amgen from a "buy" rating to a "hold" rating and upped their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Amgen presently has a consensus rating of "Hold" and an average price target of $319.68.
View Our Latest Analysis on AMGN
Amgen Stock Performance
The stock's 50-day simple moving average is $296.20 and its 200 day simple moving average is $313.27. The company has a market capitalization of $141.58 billion, a PE ratio of 33.72, a P/E/G ratio of 2.91 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.
Amgen Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.61%. Amgen's payout ratio is presently 121.90%.
Institutional Trading of Amgen
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth approximately $29,000. nVerses Capital LLC purchased a new stake in Amgen in the second quarter valued at approximately $31,000. Finally, Matrix Trust Co purchased a new stake in Amgen in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.
About Amgen
(
Get Free Report)
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.
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