Amgen Inc. (NASDAQ:AMGN) Receives $314.04 Consensus PT from Analysts

Amgen Inc. (NASDAQ:AMGN) has been given an average rating of “Hold” by the twenty-four research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $314.04.

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd.

Amgen Stock Down 0.4 %

Amgen stock opened at $305.71 on Friday. The firm has a market capitalization of $164.23 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 2.63 and a beta of 0.53. The company’s 50 day simple moving average is $299.66 and its 200 day simple moving average is $298.46. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts anticipate that Amgen will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s payout ratio is 126.09%.

Insider Buying and Selling

In other news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen in the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter valued at approximately $29,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in Amgen during the 4th quarter worth approximately $34,000. 76.50% of the stock is owned by institutional investors.

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.