Amgen (NASDAQ:AMGN) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of Amgen (NASDAQ:AMGN) in a report published on Friday, MarketBeat reports. The brokerage issued a peer perform rating on the medical research company’s stock.

Several other equities analysts have also commented on the company. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. TD Cowen raised their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. UBS Group dropped their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Trading Down 4.2 %

Shares of AMGN opened at $283.61 on Friday. Amgen has a twelve month low of $260.52 and a twelve month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company’s fifty day simple moving average is $320.85 and its 200-day simple moving average is $318.65. The company has a market cap of $152.45 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for 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%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.96 EPS. As a group, analysts expect that Amgen will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.17%. Amgen’s dividend payout ratio is currently 115.24%.

Institutional Trading of Amgen

Large investors have recently bought and sold shares of the company. Meyer Handelman Co. boosted its stake in Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the last quarter. Cornerstone Capital Inc. grew its stake in Amgen by 3.2% in the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after purchasing an additional 3,260 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Amgen by 88.8% in the third quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company’s stock valued at $25,162,000 after buying an additional 36,733 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in Amgen during the 2nd quarter worth approximately $3,354,000. Institutional investors and hedge funds 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.