UBS Group Trims Amgen (NASDAQ:AMGN) Target Price to $284.00

Amgen (NASDAQ:AMGN) had its price objective trimmed by UBS Group from $314.00 to $284.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical research company’s stock.

AMGN has been the topic of a number of other reports. The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $329.00 price objective on shares of Amgen in a report on Wednesday, April 3rd. Truist Financial reissued a buy rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. BMO Capital Markets upgraded shares of Amgen from a market perform rating to an outperform rating and raised their price target for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Finally, Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They set a market perform rating for the company. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of Moderate Buy and a consensus price target of $296.95.

Amgen Stock Up 2.4 %

AMGN stock opened at $268.93 on Wednesday. The firm has a market cap of $144.12 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.46 and a beta of 0.58. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72. The firm has a fifty day moving average price of $276.90 and a two-hundred day moving average price of $281.26. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 EPS. Research analysts predict that Amgen will post 19.45 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.35%. Amgen’s dividend payout ratio is 72.06%.

Institutional Trading of Amgen

Several institutional investors have recently made changes to their positions in AMGN. Fuller & Thaler Asset Management Inc. lifted its position in Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after buying an additional 193 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Amgen by 4.4% during the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after acquiring an additional 117 shares in the last quarter. Platform Technology Partners boosted its position in Amgen by 7.4% during the third quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock valued at $1,567,000 after purchasing an additional 402 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its stake in Amgen by 9.5% in the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after purchasing an additional 1,650 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.