Argus Issues Positive Forecast for Amgen (NASDAQ:AMGN) Stock Price

Amgen (NASDAQ:AMGN) had its target price upped by Argus from $310.00 to $360.00 in a research note released on Tuesday,MarketScreener reports. Argus currently has a buy rating on the medical research company’s stock.

Other equities research analysts also recently issued research reports about the stock. Erste Group Bank upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, December 5th. Piper Sandler increased their price objective on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 15th. Citigroup boosted their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, DZ Bank increased their price target on Amgen from $335.00 to $364.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $334.14.

Amgen Price Performance

AMGN stock opened at $328.49 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. The company has a market capitalization of $176.89 billion, a P/E ratio of 25.39, a PEG ratio of 3.06 and a beta of 0.45. The business has a 50 day simple moving average of $324.05 and a 200-day simple moving average of $302.22. Amgen has a twelve month low of $257.05 and a twelve month high of $346.38.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts anticipate that Amgen will post 20.62 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. Amgen’s dividend payout ratio is presently 73.57%.

Insider Buying and Selling

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares in the company, valued at $2,436,703.50. This represents a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,908 shares of company stock worth $3,674,966 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Amgen

Institutional investors and hedge funds have recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Legacy Investment Solutions LLC acquired a new position in Amgen in the second quarter valued at $27,000. Evelyn Partners Investment Management LLP purchased a new position in Amgen during the second quarter worth about $32,000. Howard Hughes Medical Institute acquired a new stake in Amgen in the 2nd quarter worth about $32,000. Finally, Quaker Wealth Management LLC boosted its stake in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock worth $34,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.