Amgen Inc. (NASDAQ:AMGN) Receives $332.55 Average Target Price from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $332.55.

A number of brokerages have issued reports on AMGN. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer reissued an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th.

Amgen Stock Up 0.4 %

Amgen stock opened at $316.98 on Wednesday. Amgen has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm’s 50-day simple moving average is $325.58 and its 200 day simple moving average is $313.14. The stock has a market cap of $170.04 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

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

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio is 128.57%.

Institutional Trading of Amgen

Several institutional investors and hedge funds have recently modified their holdings of AMGN. Voisard Asset Management Group Inc. grew its holdings in shares of Amgen by 17.5% during the third quarter. Voisard Asset Management Group Inc. now owns 235 shares of the medical research company’s stock worth $76,000 after purchasing an additional 35 shares in the last quarter. Financial Advocates Investment Management grew its stake in Amgen by 7.3% in the 3rd quarter. Financial Advocates Investment Management now owns 15,385 shares of the medical research company’s stock worth $4,957,000 after buying an additional 1,045 shares in the last quarter. Cornerstone Wealth Group LLC increased its holdings in shares of Amgen by 1.0% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 12,944 shares of the medical research company’s stock worth $4,171,000 after buying an additional 130 shares during the last quarter. SteelPeak Wealth LLC raised its position in shares of Amgen by 240.1% during the 3rd quarter. SteelPeak Wealth LLC now owns 104,572 shares of the medical research company’s stock valued at $33,694,000 after buying an additional 73,826 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in shares of Amgen by 26.5% during the 3rd quarter. Diversify Wealth Management LLC now owns 4,647 shares of the medical research company’s stock worth $1,463,000 after acquiring an additional 973 shares during the last quarter. 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.