Amgen (NASDAQ:AMGN) PT Lowered to $284.00

Amgen (NASDAQ:AMGN) had its price target lowered by UBS Group from $314.00 to $284.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

AMGN has been the subject of several other reports. Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They issued a market perform rating for the company. BMO Capital Markets raised shares of Amgen from a market perform rating to an outperform rating and raised their price target for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. SVB Leerink lowered Amgen from an outperform rating to a market perform rating and cut their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Morgan Stanley decreased their target price on Amgen from $281.00 to $278.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Finally, Daiwa Capital Markets upgraded Amgen from a neutral rating to a buy rating and upped their price target for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of Moderate Buy and a consensus target price of $296.95.

Amgen Stock Performance

NASDAQ AMGN opened at $264.07 on Wednesday. The stock has a fifty day simple moving average of $277.99 and a 200-day simple moving average of $281.37. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock has a market cap of $141.52 billion, a PE ratio of 21.14, a P/E/G ratio of 2.47 and a beta of 0.58. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.09 earnings per share. Equities analysts anticipate that Amgen will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is currently 72.06%.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after acquiring an additional 165,636 shares during the last quarter. Morgan Stanley raised its stake in shares of Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after purchasing an additional 1,523,665 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after purchasing an additional 94,565 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Amgen by 83,875.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares during the period. Finally, Northern Trust Corp grew its position in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after buying an additional 255,463 shares during the last quarter. Hedge funds and other 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.