Amgen (NASDAQ:AMGN) Announces Quarterly Earnings Results

Key Points

• Amgen beat quarterly expectations: EPS was $6.45 versus the $5.79 consensus, and revenue reached $10.37 billion versus estimates of $10.07 billion.
• The company declared a quarterly dividend of $2.52 per share, equivalent to $10.08 annually and a 2.2% yield.
• Analysts’ consensus rating remained Hold, with a $389.71 average price target; an FDA warning letter concerning Vectibix promotion also presents a regulatory concern.

Amgen (NASDAQ:AMGN - Get Free Report) posted its quarterly earnings data on Tuesday. The medical research company reported $6.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $0.66, FiscalAI reports. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.07 billion.

Amgen Stock Performance

Shares of AMGN stock traded down $4.19 on Tuesday, hitting $461.26. 2,309,446 shares of the stock traded hands, compared to its average volume of 2,743,839. The company's fifty day moving average is $420.49 and its 200 day moving average is $375.49. Amgen has a 1-year low of $294.48 and a 1-year high of $475.64. The company has a market capitalization of $249.37 billion, a PE ratio of 28.67, a PEG ratio of 3.31 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen's dividend payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of Amgen from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 21st. Bank of America upped their price target on shares of Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. Truist Financial increased their price objective on shares of Amgen from $362.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday, October 7th. Royal Bank Of Canada raised their price objective on shares of Amgen from $400.00 to $430.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Piper Sandler raised their price objective on shares of Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $389.71.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by corporate insiders.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported third-quarter adjusted earnings of $6.45 per share, beating the $5.79 consensus estimate, while revenue of $10.37 billion also topped expectations of $10.07 billion. Amgen Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Separate coverage highlighted data showing Amgen’s Imdelltra, combined with AstraZeneca’s Imfinzi, reduced the risk of death by 58% in patients with advanced lung cancer. The findings could support the drug’s growth potential, subject to further clinical and regulatory progress. Amgen Just Gave Its Shareholders Great News
• Negative Sentiment: An FDA warning letter over allegedly misleading promotion of Vectibix raises regulatory and reputational concerns, potentially offsetting some of the positive reaction to the earnings beat. Amgen Gets FDA Warning Letter Over Vectibix Promotion

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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