Deutsche Bank Aktiengesellschaft Cuts Amgen (NASDAQ:AMGN) Price Target to $285.00

Amgen (NASDAQ:AMGN) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research note published on Wednesday.

Several other research firms have also issued reports on AMGN. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, UBS Group cut their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $323.05.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $282.87 on Wednesday. The stock has a fifty day moving average of $311.37 and a 200-day moving average of $317.14. The stock has a market cap of $152.05 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen has a fifty-two week low of $257.80 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.96 earnings per share. Equities research analysts anticipate that Amgen will post 19.52 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.18%. Amgen’s dividend payout ratio is presently 115.24%.

Institutional Investors Weigh In On Amgen

A number of large investors have recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen during the 2nd quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen in the 2nd quarter worth approximately $30,000. Finally, nVerses Capital LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $31,000. 76.50% of the stock is currently owned by 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.