Amgen (NASDAQ:AMGN) Price Target Raised to $319.00

Amgen (NASDAQ:AMGN) had its target price hoisted by UBS Group from $315.00 to $319.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

AMGN has been the topic of several other reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Morgan Stanley upped their price objective on shares of Amgen from $328.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 9th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler upped their price target on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.91.

Amgen Stock Down 4.3 %

Shares of NASDAQ AMGN opened at $282.64 on Monday. The stock has a market capitalization of $151.96 billion, a P/E ratio of 37.44, a PEG ratio of 2.63 and a beta of 0.59. Amgen has a one year low of $253.30 and a one year high of $346.85. The firm’s 50 day simple moving average is $303.78 and its two-hundred day simple moving average is $294.82. 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 (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate 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, analysts expect that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Centricity Wealth Management LLC bought a new stake in Amgen in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC purchased a new stake in Amgen during the fourth quarter valued at $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the fourth quarter valued at about $34,000. Institutional investors 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.