UBS Group Raises Amgen (NASDAQ:AMGN) Price Target to $307.00

Amgen (NASDAQ:AMGN - Free Report) had its price target raised by UBS Group from $284.00 to $307.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the medical research company's stock.

Several other equities analysts have also issued reports on AMGN. Oppenheimer reissued an outperform rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. TD Cowen reduced their price target on Amgen from $370.00 to $360.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They issued a market perform rating on the stock. Morgan Stanley increased their price target on Amgen from $271.00 to $310.00 and gave the company an equal weight rating in a research report on Friday. Finally, William Blair raised Amgen from a market perform rating to an outperform rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $305.05.

Amgen Stock Performance

NASDAQ:AMGN traded up $32.90 during trading hours on Friday, reaching $311.29. The company had a trading volume of 9,644,103 shares, compared to its average volume of 2,894,568. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72. The firm has a market cap of $166.97 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.60. The business's 50 day moving average price is $274.51 and its 200-day moving average price is $281.33. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 EPS. Research analysts forecast that Amgen will post 19.43 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen's dividend payout ratio is presently 72.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its stake in Amgen by 1.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company's stock worth $3,133,000 after buying an additional 193 shares during the last quarter. Diversified Trust Co grew its stake in shares of Amgen by 76.8% in the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company's stock valued at $10,857,000 after purchasing an additional 16,376 shares during the last quarter. Nicolet Advisory Services LLC grew its stake in shares of Amgen by 4.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company's stock valued at $745,000 after purchasing an additional 117 shares during the last quarter. Platform Technology Partners grew its stake in shares of Amgen by 7.4% in the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company's stock valued at $1,567,000 after purchasing an additional 402 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its stake in shares of Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company's stock valued at $1,363,000 after purchasing an additional 109 shares during the last quarter. 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.