Amgen (NASDAQ:AMGN) PT Raised to $250.00 at Barclays

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Amgen (NASDAQ:AMGN) had its price target increased by Barclays from $245.00 to $250.00 in a report released on Wednesday, The Fly reports. They currently have an equal weight rating on the medical research company’s stock.

Other research analysts have also issued research reports about the company. Mizuho restated a hold rating and set a $215.00 target price on shares of Amgen in a research report on Thursday, April 30th. Wells Fargo & Co boosted their target price on Amgen from $220.00 to $237.00 and gave the company an equal weight rating in a research report on Friday, May 1st. BMO Capital Markets boosted their target price on Amgen from $274.00 to $291.00 and gave the company an outperform rating in a research report on Friday, May 1st. Piper Sandler boosted their target price on Amgen from $255.00 to $270.00 and gave the company an overweight rating in a research report on Tuesday, July 28th. Finally, Morgan Stanley boosted their price target on Amgen from $280.00 to $285.00 and gave the company an overweight rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $253.15.

Shares of NASDAQ AMGN opened at $244.67 on Wednesday. The business’s 50 day moving average is $244.08 and its two-hundred day moving average is $227.31. The company has a debt-to-equity ratio of 3.20, a current ratio of 2.18 and a quick ratio of 1.28. Amgen has a 1-year low of $177.05 and a 1-year high of $264.97. The stock has a market capitalization of $143.93 billion, a P/E ratio of 19.99, a PEG ratio of 2.09 and a beta of 0.94.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the business earned $3.97 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen will post 15.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 17th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, August 14th. Amgen’s dividend payout ratio is currently 43.18%.

In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $228.54, for a total transaction of $228,540.00. Following the sale, the director now directly owns 16,576 shares of the company’s stock, valued at approximately $3,788,279.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the sale, the director now directly owns 5,834 shares in the company, valued at $1,384,466.54. The disclosure for this sale can be found here. Insiders have sold a total of 3,425 shares of company stock worth $818,457 over the last ninety days. 0.36% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AMGN. Guggenheim Capital LLC grew its position in Amgen by 10.0% during the 4th quarter. Guggenheim Capital LLC now owns 332,540 shares of the medical research company’s stock worth $80,166,000 after purchasing an additional 30,153 shares during the period. Wealth Quarterback LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $79,000. Macquarie Group Ltd. boosted its stake in shares of Amgen by 5.7% during the 4th quarter. Macquarie Group Ltd. now owns 292,067 shares of the medical research company’s stock worth $70,408,000 after acquiring an additional 15,808 shares in the last quarter. TFG Advisers LLC purchased a new stake in shares of Amgen during the 4th quarter worth about $208,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Amgen by 11.1% during the 1st quarter. M&R Capital Management Inc. now owns 4,315 shares of the medical research company’s stock worth $874,000 after acquiring an additional 430 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Return On Assets

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