Amgen’s (AMGN) Outperform Rating Reaffirmed at William Blair

William Blair reiterated their outperform rating on shares of Amgen (NASDAQ:AMGN) in a research report released on Tuesday morning,RTT News reports.

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Price Performance

Shares of AMGN stock opened at $283.61 on Tuesday. Amgen has a 52-week low of $260.52 and a 52-week high of $346.85. 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 firm has a market capitalization of $152.45 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.69 and a beta of 0.60. The stock has a 50 day moving average price of $321.59 and a 200 day moving average price of $318.00.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company earned $4.96 EPS. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. Amgen’s payout ratio is 115.24%.

Institutional Trading of Amgen

A number of institutional investors have recently made changes to their positions in AMGN. Meyer Handelman Co. lifted its position in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the period. EP Wealth Advisors LLC lifted its position 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 worth $6,758,000 after acquiring an additional 2,353 shares during the period. Cornerstone Capital Inc. lifted its position in Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after acquiring an additional 3,260 shares during the period. Stanley Laman Group Ltd. acquired a new stake in Amgen during the 2nd quarter worth about $3,354,000. Finally, Verity & Verity LLC lifted its position in Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares during the period. Institutional investors and hedge funds 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.