Amgen (NASDAQ:AMGN) Given New $237.00 Price Target at Morgan Stanley

Amgen (NASDAQ:AMGNGet Rating) had its price target trimmed by Morgan Stanley from $238.00 to $237.00 in a research note published on Tuesday, Marketbeat reports. The firm currently has an equal weight rating on the medical research company’s stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group increased their price objective on Amgen from $266.00 to $280.00 and gave the company a buy rating in a research note on Wednesday, February 9th. Mizuho increased their target price on shares of Amgen from $194.00 to $202.00 in a research report on Tuesday, March 1st. Barclays boosted their price target on shares of Amgen from $233.00 to $236.00 and gave the stock an equal weight rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on shares of Amgen from $216.00 to $218.00 and gave the company a sector perform rating in a report on Tuesday, December 21st. Finally, Oppenheimer boosted their target price on Amgen from $272.00 to $285.00 and gave the stock an outperform rating in a report on Wednesday, February 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $235.24.

AMGN stock opened at $250.04 on Tuesday. Amgen has a 52 week low of $198.64 and a 52 week high of $261.00. The company has a quick ratio of 1.26, a current ratio of 1.59 and a debt-to-equity ratio of 4.96. The firm has a 50-day simple moving average of $233.26 and a 200-day simple moving average of $221.77. The stock has a market capitalization of $133.47 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.51 and a beta of 0.59.

Amgen (NASDAQ:AMGNGet Rating) last posted its quarterly earnings data on Monday, February 7th. The medical research company reported $4.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.14 by $0.22. Amgen had a return on equity of 120.59% and a net margin of 22.68%. The company had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.87 billion. During the same period in the previous year, the firm posted $3.81 EPS. Amgen’s revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that Amgen will post 17.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 17th will be given a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, May 16th. Amgen’s dividend payout ratio is presently 75.27%.

Hedge funds have recently modified their holdings of the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Amgen during the fourth quarter worth $26,000. Norwood Financial Corp acquired a new position in Amgen during the 4th quarter worth about $28,000. Bromfield Sneider Wealth Advisors purchased a new position in Amgen during the 1st quarter valued at about $35,000. PYA Waltman Capital LLC acquired a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Joseph Group Capital Management purchased a new stake in Amgen during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 74.53% of the company’s stock.

Amgen Company Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Analyst Recommendations for Amgen (NASDAQ:AMGN)

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