Amgen (NASDAQ:AMGN) had its price target decreased by Royal Bank of Canada to $183.00 in a report published on Wednesday morning. Royal Bank of Canada currently has a sector perform rating on the medical research company’s stock.

A number of other research analysts have also commented on AMGN. Cowen reissued a buy rating and set a $204.00 price target on shares of Amgen in a report on Tuesday. Mizuho set a $200.00 price target on Amgen and gave the company a buy rating in a report on Tuesday. ValuEngine lowered Amgen from a buy rating to a hold rating in a report on Monday, April 2nd. Zacks Investment Research lowered Amgen from a buy rating to a hold rating in a report on Tuesday, April 17th. Finally, Barclays lowered their target price on Amgen from $190.00 to $180.00 and set an equal weight rating on the stock in a report on Thursday, April 5th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Amgen has an average rating of Hold and an average price target of $190.48.

Shares of AMGN opened at $177.46 on Wednesday. The firm has a market cap of $116,043.38, a PE ratio of 14.11, a price-to-earnings-growth ratio of 2.05 and a beta of 1.36. The company has a current ratio of 3.88, a quick ratio of 5.17 and a debt-to-equity ratio of 2.14. Amgen has a one year low of $152.16 and a one year high of $201.23.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.23. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.15 earnings per share. sell-side analysts anticipate that Amgen will post 13.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a yield of 2.98%. Amgen’s dividend payout ratio is currently 41.97%.

Amgen declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In related news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 4,575 shares of company stock worth $818,330 in the last three months. 0.19% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its position in Amgen by 4.8% during the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after acquiring an additional 2,587,041 shares during the period. Vanguard Group Inc. boosted its position in Amgen by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 52,146,935 shares of the medical research company’s stock worth $8,981,266,000 after acquiring an additional 489,720 shares during the period. Bank of New York Mellon Corp boosted its position in Amgen by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,166,002 shares of the medical research company’s stock worth $1,522,551,000 after acquiring an additional 140,117 shares during the period. Geode Capital Management LLC boosted its position in Amgen by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 8,110,133 shares of the medical research company’s stock worth $1,407,552,000 after acquiring an additional 199,838 shares during the period. Finally, Nordea Investment Management AB boosted its position in Amgen by 12.9% during the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock worth $1,212,602,000 after acquiring an additional 806,119 shares during the period. 85.76% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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