Amgen, Inc. (AMGN) PT Lowered to $202.00 at Goldman Sachs Group Inc
Amgen, Inc. (NASDAQ:AMGN) had its target price decreased by equities research analysts at Goldman Sachs Group Inc from $208.00 to $202.00 in a research note issued to investors on Monday. The brokerage currently has a “conviction-buy” rating on the medical research company’s stock. Goldman Sachs Group Inc’s price objective points to a potential upside of 25.93% from the company’s previous close.
AMGN has been the topic of several other research reports. Oppenheimer Holdings Inc. set a $175.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Vetr downgraded shares of Amgen from a “buy” rating to a “hold” rating and set a $179.46 target price on the stock. in a research note on Monday, February 27th. BMO Capital Markets upped their target price on shares of Amgen from $202.00 to $212.00 and gave the stock an “outperform” rating in a research note on Monday, February 13th. Credit Suisse Group AG reiterated a “hold” rating and issued a $178.00 target price on shares of Amgen in a research note on Sunday, February 5th. Finally, Mizuho restated a “buy” rating on shares of Amgen in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $186.94.
Shares of Amgen (NASDAQ:AMGN) opened at 160.41 on Monday. The firm has a market cap of $118.13 billion, a P/E ratio of 15.67 and a beta of 1.15. The firm has a 50 day moving average price of $168.51 and a 200 day moving average price of $158.62. Amgen has a 1-year low of $133.64 and a 1-year high of $184.21.
Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, February 2nd. The medical research company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.10. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a net margin of 33.59% and a return on equity of 29.42%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 earnings per share. Analysts anticipate that Amgen will post $12.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Wednesday, May 17th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.87%. The ex-dividend date is Monday, May 15th. Amgen’s dividend payout ratio is presently 44.92%.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. increased its position in Amgen by 3.0% in the fourth quarter. First Republic Investment Management Inc. now owns 558,210 shares of the medical research company’s stock valued at $81,616,000 after buying an additional 16,521 shares in the last quarter. Third Avenue Management LLC increased its position in Amgen by 56.6% in the fourth quarter. Third Avenue Management LLC now owns 210,262 shares of the medical research company’s stock valued at $30,742,000 after buying an additional 76,036 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Amgen by 10.6% in the third quarter. Stratos Wealth Partners LTD. now owns 39,257 shares of the medical research company’s stock valued at $6,548,000 after buying an additional 3,776 shares in the last quarter. 1st Global Advisors Inc. increased its position in Amgen by 21.5% in the third quarter. 1st Global Advisors Inc. now owns 10,592 shares of the medical research company’s stock worth $1,767,000 after buying an additional 1,871 shares during the period. Finally, BancorpSouth Inc increased its position in Amgen by 2.3% in the third quarter. BancorpSouth Inc now owns 24,838 shares of the medical research company’s stock worth $4,143,000 after buying an additional 552 shares during the period. 79.04% of the stock is currently owned by institutional investors.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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