Amgen Inc. (NASDAQ:AMGN) Stock Has Average Price Target of $387.93

Key Points

• Amgen has a consensus “Hold” rating from 30 analysts, with 16 holds, 10 buys, three sells and one strong buy. The average 12-month price target is $387.93.
• Amgen reported quarterly earnings of $6.29 per share, exceeding estimates of $5.62, while revenue rose 9.5% year over year to $10.05 billion.
• The company declared a quarterly dividend of $2.52, equivalent to $10.08 annually and a 2.3% yield; institutional investors own 76.5% of outstanding shares.

Amgen Inc. (NASDAQ:AMGN - Get Free Report) has been assigned a consensus rating of "Hold" from the thirty ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $387.93.

A number of analysts have recently weighed in on AMGN shares. Weiss Ratings upgraded shares of Amgen from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Wells Fargo & Company reduced their price objective on shares of Amgen from $435.00 to $430.00 and set an "equal weight" rating for the company in a research note on Monday, October 12th. Scotiabank boosted their price objective on shares of Amgen from $450.00 to $500.00 and gave the stock an "outperform" rating in a research note on Monday, September 28th. Cantor Fitzgerald increased their target price on shares of Amgen from $400.00 to $440.00 and gave the company a "neutral" rating in a research report on Monday, October 5th. Finally, Argus raised their target price on shares of Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th.

Amgen Trading Down 0.4%

Shares of NASDAQ AMGN opened at $432.49 on Friday. Amgen has a 1-year low of $288.00 and a 1-year high of $447.03. The business has a fifty day moving average price of $415.54 and a 200 day moving average price of $374.76. The stock has a market capitalization of $233.82 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The firm's quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts expect that Amgen will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 21st. Amgen's payout ratio is currently 62.65%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company's stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company's stock.

Institutional Trading of Amgen

Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. State Street Corp raised its stake in Amgen by 38.2% in the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after acquiring an additional 11,656,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock worth $1,952,156,000 after acquiring an additional 605,928 shares during the period. Bank of America Corp DE acquired a new stake in Amgen during the 2nd quarter worth about $1,831,903,000. Finally, Amundi lifted its position in Amgen by 15.2% during the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company's stock worth $1,408,715,000 after acquiring an additional 512,883 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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