Amgen (NASDAQ:AMGN) Hits New 1-Year High - Here's Why

Key Points

• Amgen shares reached a new 52-week high of $420.97, supported by strong recent momentum; the stock’s 50-day and 200-day moving averages were $364.54 and $357.03, respectively.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, exceeding analyst estimates of $5.62 and $9.43 billion; revenue increased 9.5% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $371.68, while the company declared a quarterly dividend of $2.52 per share, yielding about 2.4% annually.

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $420.97 and last traded at $417.2320, with a volume of 109529 shares trading hands. The stock had previously closed at $417.20.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Mizuho lifted their price target on shares of Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 16th. Oppenheimer increased their price objective on Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Bank of America raised their price objective on Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 5th. TD Cowen lifted their target price on Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 target price on shares of Amgen in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $371.68.

Amgen Stock Performance

The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The stock has a market capitalization of $223.95 billion, a PE ratio of 25.72, a PEG ratio of 3.82 and a beta of 0.41. The firm's 50-day simple moving average is $364.54 and its two-hundred day simple moving average is $357.03.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts expect that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen's payout ratio is presently 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Amgen

A number of hedge funds have recently modified their holdings of AMGN. Adell Harriman & Carpenter Inc. boosted its holdings in shares of Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after purchasing an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Amgen during the 4th quarter worth $22,441,000. Sigma Planning Corp lifted its position in shares of Amgen by 24.0% during the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after buying an additional 3,488 shares during the last quarter. Integrated Advisors Network LLC boosted its stake in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock valued at $6,664,000 after buying an additional 6,356 shares in the last quarter. Finally, National Pension Service raised its stake in Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock worth $405,717,000 after acquiring an additional 55,489 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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