Amgen (NASDAQ:AMGN) Price Target Raised to $315.00 at Barclays

Amgen (NASDAQ:AMGN) had its price objective raised by Barclays from $300.00 to $315.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

A number of other analysts also recently weighed in on the stock. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Argus upped their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Wells Fargo & Company lowered shares of Amgen from an overweight rating to an equal weight rating and lifted their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Friday, September 27th. They issued an overweight rating and a $405.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of Moderate Buy and a consensus price target of $326.30.

Amgen Stock Down 0.4 %

Shares of AMGN stock opened at $321.01 on Monday. The company has a market capitalization of $172.20 billion, a price-to-earnings ratio of 45.86, a PEG ratio of 2.98 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company’s fifty day moving average price is $326.46 and its 200-day moving average price is $310.14. Amgen has a one year low of $249.70 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned $5.00 EPS. Sell-side analysts expect that Amgen will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Sawyer & Company Inc lifted its stake in shares of Amgen by 0.5% in the 3rd quarter. Sawyer & Company Inc now owns 15,939 shares of the medical research company’s stock valued at $5,136,000 after purchasing an additional 77 shares during the last quarter. Willner & Heller LLC raised its position in shares of Amgen by 3.3% during the 3rd quarter. Willner & Heller LLC now owns 1,608 shares of the medical research company’s stock worth $518,000 after acquiring an additional 52 shares in the last quarter. Ayrshire Capital Management LLC boosted its holdings in shares of Amgen by 1.5% in the 3rd quarter. Ayrshire Capital Management LLC now owns 3,893 shares of the medical research company’s stock valued at $1,254,000 after buying an additional 57 shares in the last quarter. Carnegie Investment Counsel boosted its stake in Amgen by 3.8% in the third quarter. Carnegie Investment Counsel now owns 99,420 shares of the medical research company’s stock valued at $32,034,000 after acquiring an additional 3,660 shares in the last quarter. Finally, Retirement Planning Group LLC grew its stake in Amgen by 304.3% during the 3rd quarter. Retirement Planning Group LLC now owns 3,513 shares of the medical research company’s stock worth $1,132,000 after buying an additional 2,644 shares during the last quarter. Institutional investors and hedge funds 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.