Amgen (NASDAQ:AMGN) Price Target Increased to $307.00 by Analysts at UBS Group

Amgen (NASDAQ:AMGN) had its price target boosted by UBS Group from $284.00 to $307.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the medical research company’s stock.

AMGN has been the subject of a number of other reports. William Blair upgraded Amgen from a market perform rating to an outperform rating in a report on Friday. Morgan Stanley upped their target price on Amgen from $271.00 to $310.00 and gave the stock an equal weight rating in a research note on Friday. Truist Financial reiterated a buy rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Leerink Partnrs lowered shares of Amgen from an outperform rating to a market perform rating in a report on Wednesday, February 7th. Finally, StockNews.com cut shares of Amgen from a buy rating to a hold rating in a research note on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of Moderate Buy and an average price target of $305.05.

Amgen Price Performance

AMGN stock traded up $32.90 during midday trading on Friday, reaching $311.29. The company had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The firm has a 50-day moving average price of $274.51 and a 200-day moving average price of $281.33. The company has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 2.69 and a beta of 0.60. Amgen has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 EPS. On average, research analysts anticipate that Amgen will post 19.43 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio is presently 128.57%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently modified their holdings of AMGN. BIP Wealth LLC lifted its holdings in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares during the period. Southland Equity Partners LLC boosted its position in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC boosted its position in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC raised its holdings in Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its holdings in Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after purchasing an additional 34 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.