Amgen (NASDAQ:AMGN) PT Lowered to $360.00 at TD Cowen

Amgen (NASDAQ:AMGN) had its price objective trimmed by TD Cowen from $370.00 to $360.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on Amgen from $313.00 to $350.00 and gave the company a buy rating in a research report on Wednesday, February 7th. StockNews.com lowered shares of Amgen from a buy rating to a hold rating in a report on Thursday, March 28th. Truist Financial reissued a buy rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. SVB Leerink cut shares of Amgen from an outperform rating to a market perform rating and decreased their price objective for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Finally, Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They set a market perform rating for the company. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $296.95.

Amgen Trading Up 2.4 %

Shares of AMGN opened at $268.93 on Wednesday. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The firm has a market cap of $144.12 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 2.46 and a beta of 0.58. The firm has a 50 day moving average price of $276.90 and a 200-day moving average price of $281.26. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts forecast that Amgen will post 19.45 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Amgen by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Morgan Stanley grew its holdings in shares of Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after buying an additional 1,523,665 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Amgen by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after buying an additional 94,565 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after acquiring an additional 7,532,031 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after acquiring an additional 255,463 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.