Amgen (NASDAQ:AMGN) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Amgen (NASDAQ:AMGN) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a neutral rating and a $335.00 price target on the medical research company’s stock.

Several other research analysts also recently commented on the company. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Down 4.2 %

AMGN stock opened at $283.61 on Thursday. Amgen has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a 50-day simple moving average of $320.85 and a 200-day simple moving average of $318.05. The stock has a market capitalization of $152.45 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the firm posted $4.96 EPS. Amgen’s revenue was up 23.2% compared to the same quarter last year. Equities analysts forecast that Amgen will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Institutional Investors Weigh In On Amgen

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at $29,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the second quarter valued at $30,000. Finally, nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth $31,000. 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.