Amgen Inc. (NASDAQ:AMGN) Given Average Rating of “Hold” by Analysts

Amgen Inc. (NASDAQ:AMGN) has earned a consensus rating of “Hold” from the twenty-two ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $304.4286.

Several equities research analysts recently weighed in on AMGN shares. Morgan Stanley upped their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America upped their price target on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Finally, Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price on the stock.

Amgen Price Performance

AMGN opened at $276.39 on Friday. The stock has a market capitalization of $148.80 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The stock’s 50 day moving average price is $292.54 and its 200-day moving average price is $291.76. Amgen has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio is currently 77.84%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC lifted its holdings in shares of Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares in the last quarter. Norges Bank bought a new position in shares of Amgen during the second quarter valued at $1,663,726,000. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares in the last quarter. Nuveen LLC bought a new position in shares of Amgen during the first quarter valued at $688,868,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Amgen by 1.6% during the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after purchasing an additional 841,117 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.