Amgen (NASDAQ:AMGN) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Amgen (NASDAQ:AMGN) in a research report report published on Tuesday, Benzinga reports. They currently have a $405.00 price target on the medical research company’s stock.

A number of other equities analysts also recently issued reports on AMGN. Morgan Stanley lowered their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective for the company. Finally, Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Performance

Shares of AMGN opened at $316.98 on Tuesday. The stock has a 50 day moving average price of $325.58 and a 200 day moving average price of $313.14. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $170.04 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 earnings per share. Research analysts predict that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s payout ratio is 128.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Voisard Asset Management Group Inc. raised its position in Amgen by 17.5% in the third quarter. Voisard Asset Management Group Inc. now owns 235 shares of the medical research company’s stock worth $76,000 after acquiring an additional 35 shares in the last quarter. Financial Advocates Investment Management raised its position in Amgen by 7.3% in the third quarter. Financial Advocates Investment Management now owns 15,385 shares of the medical research company’s stock worth $4,957,000 after acquiring an additional 1,045 shares in the last quarter. Cornerstone Wealth Group LLC raised its position in Amgen by 1.0% in the third quarter. Cornerstone Wealth Group LLC now owns 12,944 shares of the medical research company’s stock worth $4,171,000 after acquiring an additional 130 shares in the last quarter. SteelPeak Wealth LLC raised its position in Amgen by 240.1% in the third quarter. SteelPeak Wealth LLC now owns 104,572 shares of the medical research company’s stock worth $33,694,000 after acquiring an additional 73,826 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its position in Amgen by 26.5% in the third quarter. Diversify Wealth Management LLC now owns 4,647 shares of the medical research company’s stock worth $1,463,000 after acquiring an additional 973 shares in the last quarter. Hedge funds and other 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.