Amgen (NASDAQ:AMGN) Given New $383.00 Price Target at TD Cowen

Amgen (NASDAQ:AMGN) had its target price lifted by TD Cowen from $381.00 to $383.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 price objective on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $332.55.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $315.69 on Monday. The stock has a market cap of $169.35 billion, a P/E ratio of 45.10, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen has a twelve month low of $249.70 and a twelve month high of $346.85. The stock has a 50 day moving average of $325.77 and a two-hundred day moving average of $313.12. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company earned $5.00 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Amgen will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.85%. Amgen’s dividend payout ratio is currently 128.57%.

Institutional Trading of Amgen

A number of large investors have recently added to or reduced their stakes in the business. Meyer Handelman Co. lifted its holdings in shares of Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Amgen by 37.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after buying an additional 3,168 shares during the period. Oak Harvest Investment Services lifted its stake in Amgen by 19.1% during the first quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock valued at $10,823,000 after buying an additional 6,116 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after acquiring an additional 2,353 shares during the period. Finally, SMI Advisory Services LLC purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $3,933,000. 76.50% of the stock is currently owned by 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.