Amgen Inc. (NASDAQ:AMGN) Receives $310.23 Average Target Price from Analysts

Amgen Inc. (NASDAQ:AMGN) has been given a consensus rating of “Hold” by the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $310.23.

Several equities analysts have issued reports on AMGN shares. Royal Bank of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Piper Sandler increased their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Finally, Cantor Fitzgerald assumed coverage on Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company.

Amgen Stock Down 1.6%

Shares of NASDAQ AMGN opened at $270.45 on Friday. The company has a 50-day moving average of $294.29 and a 200 day moving average of $289.08. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a market cap of $145.42 billion, a PE ratio of 35.82, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.96 EPS. As a group, sell-side analysts predict that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.52%. Amgen’s dividend payout ratio is currently 86.86%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in Amgen in the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter worth about $26,000. First Pacific Financial boosted its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in Amgen in the fourth quarter valued at approximately $34,000. Institutional investors own 76.50% of the company’s stock.

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.