Amgen (NASDAQ:AMGN) Price Target Raised to $280.00

Amgen (NASDAQ:AMGN) had its target price increased by Mizuho from $235.00 to $280.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Several other research firms also recently issued reports on AMGN. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, May 2nd. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $310.23.

Amgen Trading Down 2.3 %

NASDAQ AMGN opened at $265.86 on Wednesday. The business’s fifty day moving average is $296.08 and its 200-day moving average is $289.86. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a market capitalization of $142.94 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.63 and a beta of 0.51. Amgen has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the firm earned $3.96 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Amgen will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is presently 86.86%.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,707 shares of company stock worth $12,819,342. 0.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMGN. Principal Financial Group Inc. boosted its position in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Fulton Bank N.A. lifted its position in shares of Amgen by 13.4% in the fourth quarter. Fulton Bank N.A. now owns 17,840 shares of the medical research company’s stock worth $4,650,000 after buying an additional 2,103 shares in the last quarter. InvesTrust bought a new position in Amgen during the fourth quarter valued at approximately $267,000. Legacy Private Trust Co. grew its holdings in Amgen by 11.3% during the 4th quarter. Legacy Private Trust Co. now owns 7,716 shares of the medical research company’s stock valued at $2,011,000 after buying an additional 784 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC raised its holdings in shares of Amgen by 0.7% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 17,651 shares of the medical research company’s stock worth $4,626,000 after acquiring an additional 128 shares in the last quarter. 76.50% of the stock is currently 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.