Amgen Inc. (NASDAQ:AMGN) Given Consensus Rating of “Hold” by Analysts

Shares of Amgen Inc. (NASDAQ:AMGNGet Rating) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $248.19.

A number of research analysts have commented on the stock. Oppenheimer raised their target price on shares of Amgen to $300.00 in a research report on Tuesday, November 15th. Atlantic Securities decreased their target price on shares of Amgen from $190.00 to $182.00 and set an “underweight” rating for the company in a research report on Tuesday, August 9th. Morgan Stanley raised their price objective on Amgen from $279.00 to $282.00 and gave the stock an “overweight” rating in a research report on Friday, November 4th. Truist Financial boosted their target price on shares of Amgen from $266.00 to $280.00 and gave the stock a “hold” rating in a research report on Tuesday, November 8th. Finally, assumed coverage on shares of Amgen in a research note on Wednesday, October 12th. They set a “buy” rating for the company.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total value of $159,979.30. Following the sale, the senior vice president now directly owns 13,009 shares in the company, valued at $3,818,661.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Institutional Trading of Amgen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in Amgen in the third quarter valued at approximately $25,000. Leelyn Smith LLC increased its stake in Amgen by 80.3% during the third quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock worth $25,000 after acquiring an additional 49 shares during the last quarter. Rational Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter worth about $26,000. Capital Wealth Alliance LLC acquired a new stake in Amgen during the 2nd quarter worth approximately $26,000. Finally, Coston McIsaac & Partners purchased a new position in Amgen in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Amgen Stock Down 0.4 %

Shares of AMGN stock opened at $287.05 on Wednesday. The company’s fifty day simple moving average is $254.24 and its two-hundred day simple moving average is $248.46. Amgen has a 52 week low of $198.64 and a 52 week high of $296.67. The stock has a market cap of $153.16 billion, a P/E ratio of 23.02, a PEG ratio of 2.30 and a beta of 0.64. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.44 by $0.26. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. Amgen’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $4.67 earnings per share. Analysts predict that Amgen will post 17.64 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a dividend of $1.94 per share. This represents a $7.76 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, November 16th. Amgen’s payout ratio is currently 62.23%.

About Amgen

(Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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