Amgen (NASDAQ:AMGN) Cut to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein cut shares of Amgen (NASDAQ:AMGN) from an outperform rating to a market perform rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $335.00 price target on the medical research company’s stock.

Several other analysts have also recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Daiwa Capital Markets upped their price objective on shares of Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group lifted their target price on shares of Amgen from $400.00 to $403.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.24.

Amgen Trading Up 1.0%

Shares of AMGN stock opened at $347.07 on Tuesday. The stock has a market capitalization of $186.89 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.06 and a beta of 0.45. The company’s fifty day simple moving average is $331.91 and its two-hundred day simple moving average is $307.18. Amgen has a 1 year low of $261.43 and a 1 year high of $349.98. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, analysts anticipate that Amgen will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 73.57%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the sale, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Laurel Wealth Advisors LLC lifted its position in Amgen by 27,765.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after acquiring an additional 6,676,575 shares in the last quarter. Norges Bank bought a new stake in shares of Amgen during the 2nd quarter valued at $1,663,726,000. Capital World Investors grew its position in shares of Amgen by 11.5% during the third quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock worth $5,303,578,000 after purchasing an additional 1,935,876 shares in the last quarter. National Bank of Canada FI increased its holdings in Amgen by 237.7% in the 3rd quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company’s stock valued at $346,076,000 after acquiring an additional 863,216 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Board-approved dividend increase to $2.52, boosting income appeal for dividend investors and supporting demand for the stock. Amgen Announces Dividend Increase
• Positive Sentiment: Amgen expanded its obesity strategy via a collaboration with Ro on GLP?1 therapies, strengthening its pipeline in high-growth metabolic indications and offering longer-term revenue upside. Amgen Expands Obesity Strategy with Ro Collaboration
• Positive Sentiment: Market momentum: AMGN reached a 52-week high, reflecting strong investor appetite tied to the dividend, pipeline news and overall biotech interest. Amgen Stock Hits 52-Week High
• Positive Sentiment: Analyst/investor bullishness on pipeline: a recent piece highlights MariTide’s obesity/T2D potential as a longer-term growth driver, supporting a constructive buy thesis for 2026+ revenue expansion. Amgen: A Buy In 2026 On MariTide Potential
• Neutral Sentiment: Near-term outlook: coverage noting upcoming earnings and pipeline catalysts — solid fundamentals but investors remain cautious ahead of quarterly reporting. Amgen Stock Outlook and Near-Term Earnings Focus
• Neutral Sentiment: Inclusion in dividend-focused lists (e.g., Dogs of the Dow coverage) underscores income-investor interest but is unlikely to move fundamentals materially. Dogs of the Dow Coverage
• Negative Sentiment: Litigation risk: Sagebrush has sued Amgen over practices related to the 340B program — a regulatory/legal dispute that could create reputational risk, potential fines or contract changes if escalated. Sagebrush Sues Amgen Over 340B Program
• Negative Sentiment: Follow-up coverage analyzing the Sagebrush suit highlights stakeholder friction around 340B — amplifies near-term headline risk that could pressure sentiment if litigation intensifies. Amgen Faces 340B Lawsuit Analysis
• Negative Sentiment: Analyst downgrade: Sanford C. Bernstein lowered AMGN to a Hold, and coverage notes a reduced rating — this can weigh on near-term sentiment despite strong earnings/guidance. Bernstein Downgrades Amgen to Hold

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.