Amgen (NASDAQ:AMGN) Given "Buy" Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Amgen (NASDAQ:AMGN - Free Report) in a report published on Friday morning, Benzinga reports. Truist Financial currently has a $320.00 target price on the medical research company's stock.

Several other analysts also recently commented on AMGN. StockNews.com downgraded Amgen from a buy rating to a hold rating in a research note on Thursday, March 28th. Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They issued a market perform rating for the company. The Goldman Sachs Group lifted their price target on Amgen from $313.00 to $350.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Oppenheimer reiterated an outperform rating and set a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. Finally, BMO Capital Markets upgraded Amgen from a market perform rating to an outperform rating and lifted their price target for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of Hold and an average price target of $295.30.

Amgen Trading Down 1.0 %

Amgen stock traded down $2.72 during trading hours on Friday, reaching $267.28. 2,140,106 shares of the company's stock were exchanged, compared to its average volume of 2,899,748. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm's 50 day simple moving average is $280.76 and its 200 day simple moving average is $281.38. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72. The firm has a market capitalization of $143.24 billion, a PE ratio of 21.40, a PEG ratio of 2.52 and a beta of 0.58.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business's revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted $4.09 EPS. Research analysts predict that Amgen will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.37%. Amgen's dividend payout ratio (DPR) is presently 72.06%.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently modified their holdings of AMGN. Moneta Group Investment Advisors LLC raised its holdings in shares of Amgen by 83,875.6% in 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 period. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth approximately $1,556,912,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company's stock worth $774,791,000 after purchasing an additional 1,806,456 shares during the period. International Assets Investment Management LLC purchased a new position in Amgen in the 4th quarter valued at approximately $4,589,900,000. Finally, Morgan Stanley grew its stake in Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company's stock valued at $3,493,471,000 after buying an additional 1,523,665 shares in 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.