Amgen Inc. (NASDAQ:AMGN) Given Consensus Rating of “Hold” by Brokerages

Amgen Inc. (NASDAQ:AMGN) has received an average rating of “Hold” from the nineteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $307.8889.

A number of analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group reduced their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald increased their price target on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup lifted their price objective on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Bank of America upped their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th.

Amgen Stock Performance

NASDAQ:AMGN opened at $315.59 on Friday. The stock has a 50-day moving average price of $289.29 and a 200 day moving average price of $288.18. The stock has a market capitalization of $169.90 billion, a P/E ratio of 25.80, a P/E/G ratio of 2.61 and a beta of 0.45. Amgen has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. During the same period in the prior year, the company posted $5.58 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.52 dividend on an annualized basis and a yield of 3.0%. Amgen’s dividend payout ratio is presently 73.57%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. OLD National Bancorp IN grew its position in shares of Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after buying an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC grew its holdings in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock worth $5,026,000 after acquiring an additional 612 shares in the last quarter. Founders Financial Alliance LLC increased its position in shares of Amgen by 2.7% in the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of Amgen by 14.2% in the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Amgen by 2.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock worth $86,423,000 after purchasing an additional 7,308 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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.