Amgen, Inc. (NASDAQ:AMGN) Receives $217.56 Average Price Target from Analysts
Amgen, Inc. (NASDAQ:AMGN) has earned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $218.13.
Several brokerages have issued reports on AMGN. Mizuho downgraded shares of Amgen from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $208.00 to $212.00 in a research report on Monday, August 19th. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Piper Jaffray Companies lifted their target price on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 26th. BMO Capital Markets boosted their price target on shares of Amgen from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. set a $198.00 price target on shares of Amgen and gave the stock a “hold” rating in a report on Friday.
Shares of AMGN stock traded down $5.47 during midday trading on Thursday, hitting $196.87. The company had a trading volume of 4,377,198 shares, compared to its average volume of 3,052,051. The stock has a market cap of $124.58 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.44 and a beta of 1.11. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. The company’s 50 day simple moving average is $195.79 and its 200 day simple moving average is $185.11. Amgen has a 52-week low of $166.30 and a 52-week high of $211.90.
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.45 per share. The ex-dividend date was Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.95%. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
In related news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the transaction, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders sold a total of 17,851 shares of company stock valued at $3,659,900 in the last quarter. Insiders own 0.25% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Advisors Preferred LLC purchased a new position in shares of Amgen in the second quarter valued at $30,000. Arbor Wealth Management LLC grew its stake in Amgen by 154.5% in the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. C J Advisory Inc purchased a new position in Amgen during the 1st quarter valued at about $40,000. Ashburton Jersey Ltd purchased a new position in Amgen during the 2nd quarter valued at about $42,000. Finally, Sound Income Strategies LLC increased its holdings in Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock valued at $43,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.
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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