Amgen, Inc. (AMGN) Receives $210.24 Average Price Target from Brokerages
Shares of Amgen, Inc. (NASDAQ:AMGN) have received an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $210.24.
AMGN has been the subject of several research analyst reports. Citigroup lifted their price target on Amgen from $204.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, January 4th. Zacks Investment Research raised Amgen from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Monday, January 14th. Goldman Sachs Group reaffirmed a “buy” rating and set a $232.00 price target on shares of Amgen in a research note on Thursday, January 17th. Oppenheimer set a $224.00 price target on Amgen and gave the stock a “buy” rating in a research note on Sunday, January 27th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Amgen in a research note on Friday, February 1st.
AMGN stock traded down $0.22 during mid-day trading on Monday, hitting $191.20. 1,961,266 shares of the stock were exchanged, compared to its average volume of 2,938,669. The company has a quick ratio of 2.57, a current ratio of 2.79 and a debt-to-equity ratio of 2.36. Amgen has a 12 month low of $165.22 and a 12 month high of $210.19. The firm has a market cap of $117.91 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 2.35 and a beta of 1.21.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $193.18, for a total value of $386,360.00. Following the completion of the sale, the director now owns 15,092 shares of the company’s stock, valued at approximately $2,915,472.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 6,000 shares of company stock valued at $1,144,120. 0.27% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ruggie Capital Group raised its position in Amgen by 297.1% during the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Arlington Partners LLC raised its position in Amgen by 86.7% during the 4th quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Capital Financial Planning LLC bought a new position in Amgen during the 4th quarter valued at approximately $27,000. Massey Quick Simon & CO. LLC raised its position in Amgen by 710.5% during the 4th quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 135 shares during the last quarter. Finally, Next Capital Management LLC bought a new position in Amgen during the 4th quarter valued at approximately $33,000. 79.18% of the stock is owned by institutional investors.
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.
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