Deutsche Bank Aktiengesellschaft Cuts Amgen (NASDAQ:AMGN) Price Target to $285.00

Amgen (NASDAQ:AMGN) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $305.00 to $285.00 in a research report released on Wednesday morning.

Several other research analysts have also recently issued reports on the stock. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $323.05.

Amgen Stock Performance

Shares of AMGN opened at $282.87 on Wednesday. Amgen has a 52 week low of $257.80 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $152.05 billion, a P/E ratio of 36.22, a P/E/G ratio of 2.50 and a beta of 0.60. The business’s 50 day moving average price is $311.37 and its 200-day moving average price is $317.14.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Amgen will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter worth approximately $25,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth $30,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter valued at about $29,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter worth about $33,000. 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.