Amgen (NASDAQ:AMGN) Rating Reiterated by Truist Financial

Truist Financial reissued their buy rating on shares of Amgen (NASDAQ:AMGN) in a report published on Friday, Benzinga reports. The firm currently has a $320.00 price target on the medical research company’s stock.

A number of other analysts also recently weighed in on the company. Oppenheimer restated an outperform rating and issued a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. UBS Group decreased their price objective on Amgen from $315.00 to $314.00 and set a neutral rating for the company in a report on Monday, January 29th. Morgan Stanley decreased their price target on Amgen from $281.00 to $278.00 and set an equal weight rating for the company in a report on Wednesday, February 7th. Royal Bank of Canada reiterated an outperform rating and set a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. Finally, BMO Capital Markets upgraded Amgen from a market perform rating to an outperform rating and increased their price target for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $295.30.

Amgen Stock Down 0.7 %

Shares of AMGN opened at $265.51 on Friday. Amgen has a 52 week low of $211.71 and a 52 week high of $329.72. The stock has a market capitalization of $142.29 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The stock has a fifty day moving average of $279.63 and a 200-day moving average of $281.52.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.09 EPS. As a group, sell-side analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.39%. Amgen’s payout ratio is 72.06%.

Hedge Funds Weigh In On Amgen

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after buying an additional 165,636 shares in the last quarter. Morgan Stanley lifted its position in shares of Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Amgen by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after buying an additional 94,565 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after purchasing an additional 7,532,031 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Amgen by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

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.