Amgen (NASDAQ:AMGN) Price Target Raised to $280.00 at Mizuho

Amgen (NASDAQ:AMGN - Free Report) had its target price increased by Mizuho from $235.00 to $280.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical research company's stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald initiated coverage on Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price on the stock. Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Bank of America raised their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Truist Financial cut their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $310.23.

Amgen Trading Down 2.3 %

Shares of NASDAQ AMGN traded down $6.19 during midday trading on Wednesday, reaching $265.86. The stock had a trading volume of 3,326,938 shares, compared to its average volume of 2,766,115. Amgen has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company's 50 day moving average price is $296.08 and its 200 day moving average price is $289.86. The firm has a market cap of $142.94 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. As a group, sell-side analysts expect that Amgen will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.58%. Amgen's dividend payout ratio is 86.86%.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,707 shares of company stock valued at $12,819,342. Corporate insiders own 0.69% of the company's stock.

Hedge Funds Weigh In On Amgen

Several large investors have recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the 4th quarter worth $26,000. First Pacific Financial boosted its holdings in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Amgen during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

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.