Brokerages Set Amgen Inc. (NASDAQ:AMGN) Price Target at $318.83

Shares of Amgen Inc. (NASDAQ:AMGN) have been assigned a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $314.91.

AMGN has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Ascent Group LLC boosted its holdings in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after purchasing an additional 31 shares during the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the last quarter. Lansing Street Advisors grew its position in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the period. Unionview LLC increased its stake in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after acquiring an additional 32 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its position in Amgen by 1.1% in the second quarter. D Orazio & Associates Inc. now owns 3,101 shares of the medical research company’s stock valued at $969,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $262.23 on Monday. The company has a 50 day simple moving average of $279.10 and a two-hundred day simple moving average of $308.66. The stock has a market cap of $140.96 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.91 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.96 earnings per share. As a group, analysts predict that Amgen will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.63%. Amgen’s dividend payout ratio (DPR) is 121.90%.

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.