Amgen (NASDAQ:AMGN) Price Target Raised to $295.00

Amgen (NASDAQ:AMGN) had its price target raised by Mizuho from $280.00 to $295.00 in a research note published on Tuesday morning, Marketbeat reports. Mizuho currently has an outperform rating on the medical research company’s stock.

A number of other analysts have also recently commented on AMGN. Scotiabank assumed coverage on Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price objective for the company. Guggenheim increased their price objective on shares of Amgen from $305.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. DZ Bank raised their target price on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Morgan Stanley upped their price target on shares of Amgen from $304.00 to $309.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Finally, Truist Financial upped their price objective on Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.04.

Amgen Price Performance

Shares of AMGN opened at $366.20 on Tuesday. Amgen has a fifty-two week low of $261.43 and a fifty-two week high of $385.12. The firm has a 50-day simple moving average of $336.68 and a 200-day simple moving average of $313.14. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market capitalization of $197.19 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 3.75 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same period in the previous year, the business posted $5.31 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, equities research analysts anticipate that Amgen will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s payout ratio is 66.90%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently made changes to their positions in AMGN. Vanguard Group Inc. increased its stake in Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock valued at $17,949,296,000 after purchasing an additional 961,975 shares during the last quarter. State Street Corp boosted its holdings in shares of Amgen by 0.6% in the 2nd quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after buying an additional 177,035 shares during the period. Capital World Investors grew its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after buying an additional 4,302,237 shares during the last quarter. Capital International Investors raised its stake in Amgen by 1.5% during the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock worth $5,414,296,000 after acquiring an additional 282,219 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.