Amgen (NASDAQ:AMGN) Price Target Raised to $295.00 at Mizuho

Amgen (NASDAQ:AMGN) had its price objective boosted by Mizuho from $280.00 to $295.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the medical research company’s stock.

A number of other research firms have also recently commented on AMGN. Sanford C. Bernstein cut Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 target price for the company. in a research note on Tuesday, January 20th. Scotiabank began coverage on Amgen in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $385.00 target price on the stock. Leerink Partners increased their target price on Amgen from $305.00 to $355.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. UBS Group lifted their price target on Amgen from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average price target of $354.04.

Amgen Trading Up 0.4%

Shares of Amgen stock traded up $1.29 during midday trading on Tuesday, reaching $365.94. 910,209 shares of the company’s stock traded hands, compared to its average volume of 2,923,485. The stock has a 50 day moving average of $335.74 and a 200-day moving average of $312.39. Amgen has a 12 month low of $261.43 and a 12 month high of $385.12. The company has a market cap of $197.05 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.85 and a beta of 0.46. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the business posted $5.31 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, equities analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be issued a $2.52 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio is 66.90%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors LLC lifted its position in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the fourth quarter worth about $2,164,162,000. Capital World Investors lifted its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after acquiring an additional 961,975 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.