Amgen (NASDAQ:AMGN) PT Lowered to $284.00 at UBS Group

Amgen (NASDAQ:AMGN) had its price target trimmed by UBS Group from $314.00 to $284.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the medical research company’s stock.

A number of other research firms have also commented on AMGN. Leerink Partnrs lowered Amgen from an outperform rating to a market perform rating in a research report on Wednesday, February 7th. Morgan Stanley dropped their target price on shares of Amgen from $281.00 to $278.00 and set an equal weight rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada reiterated an outperform rating and issued a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. Truist Financial restated a buy rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, SVB Leerink lowered shares of Amgen from an outperform rating to a market perform rating and reduced their target price for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $296.95.

Amgen Stock Up 2.4 %

Amgen stock opened at $268.93 on Wednesday. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a market capitalization of $144.12 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.46 and a beta of 0.58. The company’s 50 day simple moving average is $276.90 and its 200 day simple moving average is $281.26.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. As a group, sell-side analysts anticipate that Amgen will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Amgen in the 3rd quarter valued at about $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen in the 3rd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Amgen during the first quarter worth about $28,000. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the fourth quarter worth approximately $29,000. Finally, United Community Bank bought a new stake in Amgen in the fourth quarter valued at approximately $29,000. 76.50% of the stock is owned by 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.