Amgen Inc. (NASDAQ:AMGN) Receives Consensus Rating of "Hold" from Analysts

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have been given an average recommendation of "Hold" by the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $309.4211.

Several brokerages have weighed in on AMGN. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently made changes to their positions in the business. McLean Asset Management Corp raised its stake in shares of Amgen by 9.8% during the 3rd quarter. McLean Asset Management Corp now owns 1,071 shares of the medical research company's stock worth $315,000 after purchasing an additional 96 shares during the period. Acropolis Investment Management LLC raised its stake in Amgen by 16.4% in the 3rd quarter. Acropolis Investment Management LLC now owns 1,241 shares of the medical research company's stock valued at $346,000 after acquiring an additional 175 shares during the period. Norway Savings Bank raised its stake in Amgen by 3.5% in the 3rd quarter. Norway Savings Bank now owns 4,658 shares of the medical research company's stock valued at $1,314,000 after acquiring an additional 157 shares during the period. StrongBox Wealth LLC raised its stake in Amgen by 15.0% in the 3rd quarter. StrongBox Wealth LLC now owns 14,293 shares of the medical research company's stock valued at $4,033,000 after acquiring an additional 1,863 shares during the period. Finally, Carolina Wealth Advisors LLC raised its stake in Amgen by 209.1% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 816 shares of the medical research company's stock valued at $230,000 after acquiring an additional 552 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $295.54 on Wednesday. The company has a fifty day simple moving average of $287.04 and a 200 day simple moving average of $287.88. Amgen has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market cap of $159.11 billion, a P/E ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period last year, the business earned $4.97 EPS. The business's revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts predict that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is presently 77.84%.

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.

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