Amgen Inc. (NASDAQ:AMGN) Receives Consensus Rating of “Hold” from Analysts

Amgen Inc. (NASDAQ:AMGN) has been assigned an average rating of “Hold” from the twenty-seven brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $314.00.

AMGN has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler reduced their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd.

Hedge Funds Weigh In On Amgen

Institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after buying an additional 345,537 shares during the period. Geode Capital Management LLC increased its position in shares of Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after acquiring an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after acquiring an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC grew its stake in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 0.1 %

Shares of Amgen stock opened at $289.02 on Friday. The firm has a 50-day simple moving average of $270.95 and a two-hundred day simple moving average of $303.82. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $155.36 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. As a group, equities analysts predict that Amgen will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.29%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

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.