Amgen (NASDAQ:AMGN) PT Raised to $307.00 at UBS Group

Amgen (NASDAQ:AMGN) had its price objective hoisted by UBS Group from $284.00 to $307.00 in a report issued on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the medical research company’s stock.

A number of other analysts have also recently commented on AMGN. Leerink Partnrs cut shares of Amgen from an outperform rating to a market perform rating in a research note on Wednesday, February 7th. Truist Financial reaffirmed a buy rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. BMO Capital Markets boosted their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an outperform rating in a report on Friday. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com cut Amgen from a buy rating to a hold rating in a research report on Thursday, March 28th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of Moderate Buy and an average target price of $305.05.

Amgen Trading Down 3.8 %

NASDAQ AMGN opened at $299.48 on Friday. Amgen has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a 50 day moving average price of $275.21 and a 200 day moving average price of $281.59. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market cap of $160.64 billion, a PE ratio of 42.78, a price-to-earnings-growth ratio of 3.00 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 earnings per share. As a group, sell-side analysts forecast that Amgen will post 19.46 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is currently 128.57%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. increased its holdings in Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after acquiring an additional 193 shares in the last quarter. Diversified Trust Co grew its position in shares of Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after purchasing an additional 16,376 shares during the period. Provence Wealth Management Group increased its stake in shares of Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after purchasing an additional 154 shares in the last quarter. Nicolet Advisory Services LLC raised its position in shares of Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after purchasing an additional 117 shares during the last quarter. Finally, Platform Technology Partners lifted its stake in Amgen by 7.4% in the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock valued at $1,567,000 after buying an additional 402 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.