Amgen – Amgen Inc. (NASDAQ:AMGN) Receives Consensus Rating of “Buy” from Brokerages
Amgen Inc. (NASDAQ:AMGN) has earned a consensus recommendation of “Buy” from the twenty-six ratings firms that are covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $258.90.
Several equities analysts have recently weighed in on AMGN shares. Mizuho reduced their price objective on Amgen from $260.00 to $215.00 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. Cantor Fitzgerald boosted their price target on Amgen from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Raymond James raised shares of Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 price objective for the company in a research report on Monday, October 26th. Piper Sandler reduced their target price on shares of Amgen from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 3rd. Finally, Daiwa Capital Markets initiated coverage on shares of Amgen in a report on Tuesday, December 29th. They set a “buy” rating and a $300.00 price target for the company.
NASDAQ AMGN opened at $238.46 on Thursday. The firm has a market capitalization of $138.82 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.90 and a beta of 0.76. Amgen has a 1-year low of $177.05 and a 1-year high of $276.69. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The business’s 50-day simple moving average is $238.25 and its 200-day simple moving average is $237.43.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Monday, February 1st. The medical research company reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.39 by $0.42. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.57 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.64 EPS. On average, equities research analysts expect that Amgen will post 16.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 8th. Shareholders of record on Monday, February 15th will be issued a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, February 11th. This is an increase from Amgen’s previous quarterly dividend of $1.60. Amgen’s dividend payout ratio (DPR) is currently 43.18%.
In other Amgen news, Director R Sanders Williams sold 250 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $237.99, for a total value of $59,497.50. Following the sale, the director now directly owns 4,659 shares of the company’s stock, valued at $1,108,795.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $238.40, for a total value of $238,400.00. Following the completion of the sale, the director now owns 16,805 shares in the company, valued at $4,006,312. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,360 shares of company stock worth $3,161,514. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Advisory Alpha LLC bought a new stake in Amgen in the third quarter valued at $25,000. JFG Wealth Management LLC bought a new stake in Amgen in the third quarter valued at $28,000. Norway Savings Bank bought a new stake in Amgen in the fourth quarter valued at $29,000. Crescent Capital Consulting LLC bought a new stake in Amgen in the fourth quarter valued at $34,000. Finally, Kinloch Capital LLC bought a new stake in Amgen in the fourth quarter valued at $40,000. Institutional investors own 75.23% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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