Amgen (NASDAQ:AMGN – Free 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 %
Amgen (NASDAQ:AMGN – Get 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
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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