Amgen (NASDAQ:AMGN) Downgraded by Truist Financial

Truist Financial lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat reports. Truist Financial currently has $333.00 price objective on the medical research company’s stock, up from their prior price objective of $320.00.

AMGN has been the topic of a number of other reports. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, TD Cowen increased their target price on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $326.95.

Amgen Trading Down 1.1 %

Shares of Amgen stock opened at $321.63 on Monday. The company’s fifty day moving average is $326.15 and its two-hundred day moving average is $311.56. Amgen has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company has a market capitalization of $172.53 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) 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 company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the firm earned $5.00 EPS. The business’s revenue was up 20.1% on a year-over-year basis. Analysts forecast that Amgen will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

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

Institutional Investors Weigh In On Amgen

Large investors have recently bought and sold shares of the stock. Vista Investment Partners LLC increased its position in Amgen by 204.7% during the 3rd quarter. Vista Investment Partners LLC now owns 2,054 shares of the medical research company’s stock worth $662,000 after purchasing an additional 1,380 shares in the last quarter. Drake & Associates LLC purchased a new stake in shares of Amgen during the third quarter worth about $469,000. Secure Asset Management LLC grew its holdings in shares of Amgen by 6.0% during the third quarter. Secure Asset Management LLC now owns 943 shares of the medical research company’s stock worth $304,000 after buying an additional 53 shares in the last quarter. Marshall Financial Group LLC raised its position in shares of Amgen by 2.8% in the third quarter. Marshall Financial Group LLC now owns 3,855 shares of the medical research company’s stock valued at $1,242,000 after buying an additional 104 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its stake in shares of Amgen by 7.6% during the third quarter. Trifecta Capital Advisors LLC now owns 11,260 shares of the medical research company’s stock valued at $3,628,000 after buying an additional 794 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.