Amgen (NASDAQ:AMGN) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Amgen (NASDAQ:AMGN) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $405.00 target price on the medical research company’s stock.

A number of other research analysts also recently weighed in on AMGN. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $332.55.

Amgen Stock Performance

Shares of AMGN stock opened at $315.69 on Tuesday. The firm has a market capitalization of $169.35 billion, a price-to-earnings ratio of 45.10, a PEG ratio of 2.86 and a beta of 0.61. The stock has a fifty day moving average of $325.77 and a 200 day moving average of $313.12. Amgen has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the business posted $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts expect that Amgen will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is 128.57%.

Hedge Funds Weigh In On Amgen

Large investors have recently added to or reduced their stakes in the company. Meyer Handelman Co. lifted its stake in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Amgen by 37.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after acquiring an additional 3,168 shares during the period. Oak Harvest Investment Services grew its position in shares of Amgen by 19.1% during the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after purchasing an additional 6,116 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after purchasing an additional 2,353 shares during the period. Finally, SMI Advisory Services LLC purchased a new position in Amgen in the 1st quarter worth approximately $3,933,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.