Amgen (NASDAQ:AMGN) Price Target Lowered to $295.00 at Citigroup

Amgen (NASDAQ:AMGNFree Report) had its price target decreased by Citigroup from $310.00 to $295.00 in a research report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the company. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. TD Cowen lifted their target price 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. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $314.00.

Check Out Our Latest Research Report on Amgen

Amgen Stock Up 0.8 %

AMGN stock opened at $284.02 on Tuesday. The firm has a market cap of $152.67 billion, a PE ratio of 36.37, a P/E/G ratio of 2.78 and a beta of 0.56. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $271.35 and a 200 day simple moving average of $304.99.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 EPS. Equities research analysts forecast that Amgen will post 19.56 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. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.35%. Amgen’s payout ratio is 115.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cadinha & Co. LLC increased its position in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the last quarter. Lansing Street Advisors boosted its stake in shares of Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC increased its holdings in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares during the last quarter. Traveka Wealth LLC raised its stake in shares of Amgen by 4.3% in the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares in the last quarter. Finally, AM Investment Strategies LLC lifted its holdings in Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after purchasing an additional 33 shares during the last quarter. Institutional investors 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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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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