Amgen (NASDAQ:AMGN) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer restated their outperform rating on shares of Amgen (NASDAQ:AMGN) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $380.00 price target on the medical research company’s stock.

Other equities research analysts also recently issued research reports about the company. William Blair raised Amgen from a market perform rating to an outperform rating in a report on Friday, May 3rd. Argus upped their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a buy rating in a report on Thursday, June 27th. Barclays raised shares of Amgen from an underweight rating to an equal weight rating and raised their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Wells Fargo & Company lowered Amgen from an overweight rating to an equal weight rating and boosted their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday. Finally, TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $326.89.

Amgen Stock Up 0.7 %

Shares of AMGN stock traded up $2.18 during mid-day trading on Wednesday, hitting $314.68. The stock had a trading volume of 64,723 shares, compared to its average volume of 2,634,543. The firm has a market capitalization of $168.81 billion, a P/E ratio of 44.64, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen has a 12-month low of $248.38 and a 12-month high of $346.85. The firm’s 50-day moving average is $317.58 and its two-hundred day moving average is $298.65.

Amgen (NASDAQ:AMGN) last posted 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 12.74% and a return on equity of 156.21%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts predict that Amgen will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.86%. Amgen’s payout ratio is 128.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC acquired a new stake in Amgen during the 1st quarter valued at $28,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. United Community Bank purchased a new stake in Amgen in the fourth quarter valued at approximately $29,000. Finally, Delos Wealth Advisors LLC raised its holdings in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. 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.