Amgen (NASDAQ:AMGN) Stock Rating Lowered by Truist Financial

Truist Financial cut shares of Amgen (NASDAQ:AMGN) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $333.00 price target on the medical research company’s stock, up from their prior price target of $320.00.

Several other brokerages have also weighed in on AMGN. Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $329.48.

Amgen Stock Performance

AMGN stock opened at $321.33 on Monday. The firm has a market cap of $172.37 billion, a PE ratio of 45.90, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The business has a 50 day moving average of $326.08 and a 200-day moving average of $311.63. Amgen has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the company posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts expect that Amgen will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s payout ratio is 128.57%.

Institutional Trading of Amgen

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares in the last quarter. Capital International Investors boosted its position in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after acquiring an additional 162,223 shares in the last quarter. Janus Henderson Group PLC boosted its position in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Boston Partners boosted its position in Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company’s stock valued at $635,179,000 after acquiring an additional 481,214 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

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.