Amgen Inc. (NASDAQ:AMGN) Receives $183.58 Average PT from Analysts
Shares of Amgen Inc. (NASDAQ:AMGN) have received a consensus recommendation of “Buy” from the twenty-two brokerages that are currently covering the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $183.58.
A number of brokerages have issued reports on AMGN. Leerink Swann restated a “hold” rating on shares of Amgen in a research report on Saturday, September 17th. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 target price for the company in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $206.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Saturday, September 17th. Robert W. Baird restated an “outperform” rating and set a $157.00 target price on shares of Amgen in a research report on Friday, August 26th. Finally, Citigroup Inc. lifted their target price on shares of Amgen from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th.
Amgen (NASDAQ:AMGN) opened at 166.81 on Friday. Amgen has a 52-week low of $138.06 and a 52-week high of $176.85. The company’s 50 day moving average is $171.68 and its 200-day moving average is $161.02. The stock has a market cap of $124.83 billion, a PE ratio of 17.07 and a beta of 0.87.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share. On average, equities analysts anticipate that Amgen will post $11.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $4.00 annualized dividend and a yield of 2.40%. Amgen’s payout ratio is 40.90%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Oakworth Capital Inc. boosted its position in Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock valued at $111,000 after buying an additional 100 shares during the last quarter. Valley National Advisers Inc. boosted its position in Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock valued at $109,000 after buying an additional 33 shares during the last quarter. Glassman Wealth Services boosted its position in Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock valued at $110,000 after buying an additional 600 shares during the last quarter. Integrated Wealth Management boosted its position in Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock valued at $141,000 after buying an additional 3 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its position in Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock valued at $155,000 after buying an additional 85 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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