Amgen (NASDAQ:AMGN) Price Target Lowered to $285.00 at Deutsche Bank Aktiengesellschaft

Amgen (NASDAQ:AMGN) had its price target cut by Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research note released on Wednesday morning.

Several other equities analysts have also recently weighed in on AMGN. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Royal Bank of Canada cut their price target on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.05.

Amgen Stock Up 0.0 %

Shares of Amgen stock opened at $280.07 on Wednesday. Amgen has a 52-week low of $257.80 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s 50 day simple moving average is $313.58 and its 200 day simple moving average is $317.57. The firm has a market cap of $150.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.62 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, analysts predict that Amgen will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.21%. Amgen’s dividend payout ratio is currently 115.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC increased its stake in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC increased its position in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC boosted its holdings in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Company Profile

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.