Amgen (NASDAQ:AMGN) Receives New Coverage from Analysts at Raymond James

Raymond James initiated coverage on shares of Amgen (NASDAQ:AMGN) in a research report released on Thursday, MarketBeat Ratings reports. The firm issued a market perform rating on the medical research company’s stock.

A number of other equities analysts also recently issued reports on the stock. Leerink Partnrs downgraded shares of Amgen from an outperform rating to a market perform rating in a report on Wednesday, February 7th. UBS Group dropped their price objective on shares of Amgen from $315.00 to $314.00 and set a neutral rating on the stock in a report on Monday, January 29th. Truist Financial reissued a buy rating and issued a $320.00 price objective on shares of Amgen in a report on Wednesday, November 29th. SVB Leerink downgraded shares of Amgen from an outperform rating to a market perform rating and dropped their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $281.00 to $278.00 and set an equal weight rating on the stock in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of Hold and an average price target of $295.30.

Amgen Stock Down 0.7 %

NASDAQ:AMGN opened at $284.32 on Thursday. The firm has a market cap of $152.37 billion, a P/E ratio of 22.76, a P/E/G ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a 50-day simple moving average of $290.09 and a two-hundred day simple moving average of $280.70.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business earned $4.09 EPS. Analysts predict that Amgen will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

Institutional Investors Weigh In On Amgen

Institutional investors and hedge funds have recently modified their holdings of the stock. Briaud Financial Planning Inc bought a new stake in Amgen in the third quarter worth $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the fourth quarter worth $29,000. United Community Bank purchased a new position in Amgen during the fourth quarter worth $29,000. Dagco Inc. purchased a new position in Amgen during the fourth quarter worth $29,000. Finally, OFI Invest Asset Management purchased a new position in Amgen during the third quarter worth $26,000. Institutional investors own 76.50% of the company’s stock.

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.