Amgen Inc. (NASDAQ:AMGN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have been given an average rating of “Hold” by the twenty-six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $319.68.

AMGN has been the subject of several research reports. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Royal Bank of Canada dropped their target price on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th.

Hedge Funds Weigh In On Amgen

Several institutional investors and hedge funds have recently bought and sold shares of AMGN. Keynote Financial Services LLC grew its stake in shares of Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares during the period. Ascent Group LLC boosted its position in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares during the period. Hofer & Associates. Inc increased its stake in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares in the last quarter. Cadinha & Co. LLC raised its position in shares of Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the period. Finally, Lansing Street Advisors boosted its holdings in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.8 %

NASDAQ AMGN opened at $273.41 on Thursday. The company has a market cap of $146.97 billion, a P/E ratio of 35.01, a P/E/G ratio of 3.02 and a beta of 0.55. Amgen has a 12 month low of $257.80 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a 50-day moving average of $304.80 and a 200-day moving average of $315.45.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.96 EPS. As a group, equities analysts predict that Amgen will post 19.51 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 115.24%.

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.