Amgen (NASDAQ:AMGN) had its price target reduced by Morgan Stanley from $285.00 to $281.00 in a research note released on Wednesday, 24/7 WallStreet reports. They currently have an overweight rating on the medical research company’s stock.
Several other equities analysts have also weighed in on AMGN. Mizuho reissued a hold rating and issued a $215.00 target price on shares of Amgen in a research note on Thursday, April 30th. BidaskClub lowered shares of Amgen from a buy rating to a hold rating in a research note on Saturday, July 25th. Piper Sandler upped their target price on shares of Amgen from $255.00 to $270.00 and gave the company an overweight rating in a research note on Tuesday, July 28th. BMO Capital Markets lifted their price target on shares of Amgen from $274.00 to $291.00 and gave the stock an outperform rating in a research report on Friday, May 1st. Finally, Wolfe Research started coverage on shares of Amgen in a report on Tuesday, March 31st. They issued a market perform rating and a $218.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $253.15.
Shares of NASDAQ AMGN opened at $244.67 on Wednesday. The company’s 50 day simple moving average is $244.08 and its 200 day simple moving average is $227.31. Amgen has a fifty-two week low of $177.05 and a fifty-two week high of $264.97. The firm has a market capitalization of $143.93 billion, a P/E ratio of 19.99, a P/E/G ratio of 2.08 and a beta of 0.94. The company has a debt-to-equity ratio of 3.20, a current ratio of 2.18 and a quick ratio of 1.28.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.44. The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.97 EPS. Sell-side analysts expect that Amgen will post 15.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 17th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 14th. Amgen’s payout ratio is 43.18%.
In other news, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total transaction of $100,856.75. Following the completion of the transaction, the director now directly owns 5,834 shares in the company, valued at approximately $1,384,466.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $229.27, for a total value of $229,270.00. Following the completion of the transaction, the director now owns 16,482 shares of the company’s stock, valued at approximately $3,778,828.14. The disclosure for this sale can be found here. Insiders sold a total of 3,425 shares of company stock worth $818,457 over the last quarter. Company insiders own 0.36% of the company’s stock.
Large investors have recently bought and sold shares of the business. Wealth Architects LLC boosted its holdings in shares of Amgen by 2.2% in the 1st quarter. Wealth Architects LLC now owns 2,200 shares of the medical research company’s stock valued at $446,000 after buying an additional 47 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Amgen by 11.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 41,989 shares of the medical research company’s stock worth $8,512,000 after buying an additional 4,383 shares during the last quarter. Balentine LLC bought a new stake in Amgen during the first quarter worth $117,000. Tower Research Capital LLC TRC lifted its stake in Amgen by 115.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,777 shares of the medical research company’s stock valued at $360,000 after acquiring an additional 954 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Amgen by 19.6% in the 1st quarter. EP Wealth Advisors LLC now owns 18,310 shares of the medical research company’s stock valued at $3,712,000 after acquiring an additional 3,006 shares during the period. 75.73% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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