Analysts Set Amgen Inc. (NASDAQ:AMGN) Target Price at $314.04

Shares of Amgen Inc. (NASDAQ:AMGN) have earned a consensus recommendation of “Hold” from the twenty-four brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $314.04.

A number of research analysts have recently commented on AMGN shares. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial dropped their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Redburn Partners decreased their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th.

Amgen Stock Performance

Amgen stock opened at $314.38 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market capitalization of $168.89 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen has a 1-year low of $253.30 and a 1-year high of $346.85. The company’s 50-day moving average is $298.13 and its 200 day moving average is $298.50.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Research analysts forecast that Amgen will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.03%. Amgen’s payout ratio is 126.09%.

Insiders Place Their Bets

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

A number of institutional investors have recently bought and sold shares of AMGN. Swedbank AB grew its position in Amgen by 1.1% during the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after purchasing an additional 5,751 shares during the period. Quest Partners LLC grew its holdings in Amgen by 1,568.7% during the third quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock worth $618,000 after acquiring an additional 1,804 shares during the period. Citizens Financial Group Inc. RI raised its position in Amgen by 4.4% during the third quarter. Citizens Financial Group Inc. RI now owns 14,844 shares of the medical research company’s stock valued at $4,783,000 after acquiring an additional 626 shares in the last quarter. LPL Financial LLC lifted its holdings in Amgen by 0.7% in the third quarter. LPL Financial LLC now owns 751,945 shares of the medical research company’s stock valued at $242,284,000 after acquiring an additional 4,999 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its position in Amgen by 7.4% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 41,548 shares of the medical research company’s stock worth $13,387,000 after purchasing an additional 2,871 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.