Amgen Inc. (NASDAQ:AMGN) Short Interest Update

Amgen Inc. (NASDAQ:AMGN) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 10,470,000 shares, a decline of 5.8% from the March 15th total of 11,110,000 shares. Based on an average daily trading volume, of 2,920,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $298.38.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiduciary Alliance LLC raised its position in Amgen by 1.0% in the 1st quarter. Fiduciary Alliance LLC now owns 25,742 shares of the medical research company’s stock valued at $7,286,000 after purchasing an additional 264 shares in the last quarter. Trilogy Capital Inc. raised its holdings in Amgen by 3.8% in the first quarter. Trilogy Capital Inc. now owns 9,920 shares of the medical research company’s stock valued at $2,820,000 after acquiring an additional 360 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in Amgen by 3.8% in the first quarter. Red Door Wealth Management LLC now owns 25,029 shares of the medical research company’s stock worth $7,116,000 after acquiring an additional 920 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in Amgen by 876.8% during the 1st quarter. Cornerstone Wealth Group LLC now owns 12,493 shares of the medical research company’s stock worth $3,552,000 after acquiring an additional 11,214 shares in the last quarter. Finally, Merrion Investment Management Co LLC increased its position in shares of Amgen by 7.1% in the 1st quarter. Merrion Investment Management Co LLC now owns 2,643 shares of the medical research company’s stock valued at $751,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $264.07 on Thursday. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The company’s 50 day simple moving average is $277.99 and its 200-day simple moving average is $281.37. The company has a market capitalization of $141.52 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.09 EPS. As a group, equities research analysts expect that Amgen will post 19.47 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

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.