Amgen Inc. (NASDAQ:AMGN) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Brokerages hold a neutral view of Amgen: Thirty analysts collectively rate the stock “Hold,” with 15 hold, 11 buy, two strong-buy and two sell recommendations. The average 12-month price target is $357, below the stock’s reported $378.87 opening price.
• Amgen declared a quarterly dividend of $2.52 per share, or $10.08 annualized, representing a 2.7% yield and a 70.15% payout ratio.
• Newer medicines and potential expansion into type 2 diabetes offer growth opportunities, but a reported data breach involving patient and proprietary information represents a significant near-term risk ahead of earnings.

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have been given a consensus recommendation of "Hold" by the thirty research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $357.00.

AMGN has been the subject of a number of research analyst reports. Royal Bank Of Canada restated a "positive" rating on shares of Amgen in a report on Thursday, June 18th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. BMO Capital Markets restated an "outperform" rating and issued a $400.00 price target on shares of Amgen in a research note on Wednesday, July 1st. Canaccord Genuity Group began coverage on Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research report on Monday, July 6th.

Amgen Stock Down 1.6%

Amgen stock opened at $378.87 on Tuesday. The stock has a market cap of $204.48 billion, a P/E ratio of 26.37, a P/E/G ratio of 3.90 and a beta of 0.41. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen has a twelve month low of $269.77 and a twelve month high of $398.00. The company's 50-day moving average price is $357.39 and its two-hundred day moving average price is $354.35.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen's dividend payout ratio is 70.15%.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s second-quarter outlook calls for newer medicines to offset declines in parts of its legacy portfolio. Analysts are also assessing whether the company can exceed quarterly earnings expectations, which could support the shares if management delivers strong results or raises its outlook. Amgen Q2 preview: growth from newer drugs to offset legacy portfolio declines Are These 5 Pharma Stocks Set to Surpass Q2 Earnings Forecasts?
• Positive Sentiment: An early-stage AMG 127 study signals Amgen’s expansion into type 2 diabetes, potentially opening another large market. However, the program remains preliminary and is not yet a near-term revenue driver. Amgen’s AMG 127 Trial Signals a New Push Into Type 2 Diabetes
• Neutral Sentiment: Amgen obtained a license to Kaléo’s patented auto-injector technology. The deal could improve drug-device capabilities and patient convenience, but financial terms were undisclosed, limiting its immediate valuation impact. Kaléo Announces License Agreement with Amgen for Auto-Injector Technology
• Negative Sentiment: Amgen is investigating a data breach involving patient health information and proprietary company data. The scope and consequences remain unclear, but potential regulatory costs, litigation, remediation expenses and reputational damage are significant risks. This appears to be the principal near-term overhang ahead of earnings. Amgen contends with data breach, exposing patient information Amgen reveals material cyber breach with patient data stolen

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently bought and sold shares of the business. Dogwood Wealth Management LLC increased its holdings in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the period. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after buying an additional 70 shares during the period. Tower View Wealth Management LLC boosted its stake in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares during the period. Manning & Napier Advisors LLC grew its position in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after buying an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in Amgen during the fourth quarter worth approximately $34,000. 76.50% of the stock is owned by institutional investors.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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