Amgen (NASDAQ:AMGN) Price Target Increased to $315.00 by Analysts at Barclays

Amgen (NASDAQ:AMGN) had its price objective increased by Barclays from $300.00 to $315.00 in a report issued on Monday morning, Benzinga reports. They currently have an equal weight rating on the medical research company’s stock.

Several other research analysts also recently issued reports on the company. Oppenheimer restated an outperform rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an equal weight rating for the company in a research note on Thursday, July 11th. Cantor Fitzgerald began coverage on shares of Amgen in a research report on Friday, September 27th. They set an overweight rating and a $405.00 target price for the company. TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $326.30.

Amgen Price Performance

Shares of AMGN opened at $321.01 on Monday. 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 has a twelve month low of $249.70 and a twelve month high of $346.85. The firm has a market capitalization of $172.20 billion, a PE ratio of 45.86, a P/E/G ratio of 2.98 and a beta of 0.61. The stock’s 50 day moving average is $326.46 and its two-hundred day moving average is $310.14.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.00 earnings per share. Research analysts anticipate that Amgen will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s dividend payout ratio is currently 128.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. increased its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after acquiring an additional 3,045,657 shares during the period. Capital International Investors increased its position in Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after acquiring an additional 243,720 shares in the last quarter. Royal Bank of Canada boosted its position in Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after purchasing an additional 162,223 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

About Amgen

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.