TD Cowen Boosts Amgen (NASDAQ:AMGN) Price Target to $383.00

Amgen (NASDAQ:AMGN) had its price objective hoisted by TD Cowen from $381.00 to $383.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

AMGN has been the topic of several other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price objective on the stock. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $332.55.

Amgen Trading Down 1.5 %

AMGN opened at $314.90 on Monday. Amgen has a 1-year low of $249.70 and a 1-year high of $346.85. The stock has a market capitalization of $168.92 billion, a PE ratio of 44.99, a PEG ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average price of $325.77 and a two-hundred day moving average price of $313.12.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Institutional Trading of Amgen

A number of large investors have recently bought and sold shares of AMGN. Vanguard Group Inc. boosted its holdings in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after buying an additional 3,045,657 shares during the period. Capital International Investors boosted its stake in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Dimensional Fund Advisors LP increased its holdings in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after purchasing an additional 162,223 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

About Amgen

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.