Amgen (NASDAQ:AMGN) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Amgen (NASDAQ:AMGN) from a hold (c+) rating to a buy (b-) rating in a research note released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on AMGN. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Citigroup upped their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Morgan Stanley upped their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $309.42.

Amgen Trading Down 1.8%

NASDAQ AMGN opened at $290.13 on Wednesday. The firm has a market capitalization of $156.19 billion, a P/E ratio of 23.72, a PEG ratio of 2.56 and a beta of 0.49. The business has a fifty day simple moving average of $286.77 and a 200 day simple moving average of $287.68. Amgen has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts predict that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Amgen

Large investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its holdings in Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock worth $5,027,000 after acquiring an additional 13,460 shares during the last quarter. KPP Advisory Services LLC grew its holdings in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council purchased a new position in Amgen during the 1st quarter valued at about $1,331,000. Trinity Legacy Partners LLC grew its holdings in Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after buying an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC grew its holdings in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

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.