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

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

A number of other research firms have also weighed in on AMGN. William Blair raised Amgen from a market perform rating to an outperform rating in a research note on Friday. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They set a market perform rating for the company. 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 research report on Friday. Truist Financial reiterated a buy rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Oppenheimer restated an outperform rating and set a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $305.05.

Amgen Price Performance

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

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

Amgen Announces Dividend

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

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by company insiders.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently modified their holdings of the business. BIP Wealth LLC boosted its stake in shares of Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after acquiring an additional 32 shares during the last quarter. Southland Equity Partners LLC raised its holdings in Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares during the period. Acropolis Investment Management LLC lifted its position in Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the period. Finally, Marino Stram & Associates LLC increased its position in Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after buying an additional 34 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

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.