Truist Financial Reaffirms “Buy” Rating for Amgen (NASDAQ:AMGN)

Truist Financial reiterated their buy rating on shares of Amgen (NASDAQ:AMGNFree Report) in a report released on Friday, Benzinga reports. The brokerage currently has a $320.00 price objective on the medical research company’s stock.

AMGN has been the subject of a number of other reports. Oppenheimer reiterated an outperform rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their target price on shares of Amgen from $313.00 to $350.00 and gave the company a buy rating in a research note on Wednesday, February 7th. StockNews.com lowered Amgen from a buy rating to a hold rating in a research note on Thursday, March 28th. BMO Capital Markets upgraded Amgen from a market perform rating to an outperform rating and upped their price objective for the stock from $286.00 to $326.00 in a research note on Tuesday, December 19th. Finally, UBS Group reduced their price objective on Amgen from $315.00 to $314.00 and set a neutral rating for the company in a research note on Monday, January 29th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of Hold and an average target price of $295.30.

Get Our Latest Stock Analysis on Amgen

Amgen Stock Performance

AMGN stock opened at $267.28 on Friday. The stock has a market capitalization of $143.24 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.58. Amgen has a 12-month low of $211.71 and a 12-month high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock’s 50 day simple moving average is $280.76 and its 200 day simple moving average is $281.55.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for 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%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.09 EPS. As a group, research analysts forecast that Amgen will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced 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. This represents a $9.00 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. First Financial Corp IN boosted its holdings in shares of Amgen by 15.7% during the 1st quarter. First Financial Corp IN now owns 390 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 53 shares during the last quarter. Hoxton Planning & Management LLC boosted its holdings in shares of Amgen by 5.7% during the 1st quarter. Hoxton Planning & Management LLC now owns 739 shares of the medical research company’s stock valued at $210,000 after purchasing an additional 40 shares during the last quarter. DLK Investment Management LLC boosted its holdings in shares of Amgen by 1.4% during the 1st quarter. DLK Investment Management LLC now owns 19,104 shares of the medical research company’s stock valued at $5,432,000 after purchasing an additional 260 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Amgen by 2.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,573 shares of the medical research company’s stock valued at $6,418,000 after purchasing an additional 432 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. boosted its holdings in shares of Amgen by 1.0% during the 1st quarter. Bourne Lent Asset Management Inc. now owns 9,820 shares of the medical research company’s stock valued at $2,792,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Amgen (NASDAQ:AMGN)

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