Amgen (AMGN) Given a $224.00 Price Target at Oppenheimer

Oppenheimer set a $224.00 price objective on Amgen (NASDAQ:AMGN) in a report released on Tuesday. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other research firms have also recently commented on AMGN. Cann reissued a buy rating and issued a $224.00 target price on shares of Amgen in a report on Monday, July 30th. Mizuho reissued a buy rating and issued a $200.00 target price on shares of Amgen in a report on Friday, July 27th. Goldman Sachs Group reissued a buy rating and issued a $228.00 target price on shares of Amgen in a report on Friday, July 27th. Zacks Investment Research raised shares of Amgen from a hold rating to a buy rating and set a $234.00 target price for the company in a report on Monday, October 1st. Finally, Royal Bank of Canada set a $193.00 target price on shares of Amgen and gave the stock a buy rating in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $205.16.

AMGN opened at $189.08 on Tuesday. Amgen has a twelve month low of $163.31 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.39 and a quick ratio of 3.12. The stock has a market cap of $120.38 billion, a P/E ratio of 15.03, a PEG ratio of 1.83 and a beta of 1.40.



Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. Amgen’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.27 earnings per share. As a group, analysts anticipate that Amgen will post 14.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 15th. Amgen’s dividend payout ratio is currently 41.97%.

Several institutional investors have recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. acquired a new stake in Amgen during the 2nd quarter valued at approximately $86,723,000. Natixis grew its position in shares of Amgen by 2,612.1% during the 2nd quarter. Natixis now owns 529,816 shares of the medical research company’s stock worth $97,799,000 after buying an additional 510,281 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Amgen by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,365,045 shares of the medical research company’s stock worth $436,551,000 after buying an additional 343,690 shares during the period. Bank of Nova Scotia grew its position in shares of Amgen by 234.2% during the 2nd quarter. Bank of Nova Scotia now owns 433,450 shares of the medical research company’s stock worth $80,011,000 after buying an additional 303,743 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $54,522,000. 82.37% of the stock is owned by institutional investors.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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