Amgen Inc. (NASDAQ:AMGN - Get Free Report)'s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $278.39, but opened at $313.39. Amgen shares last traded at $313.33, with a volume of 4,053,898 shares traded.
The medical research company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The business's revenue for the quarter was up 22.0% on a year-over-year basis.
Amgen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen's payout ratio is currently 72.06%.
Analyst Ratings Changes
AMGN has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Friday. Truist Financial restated a "buy" rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. The Goldman Sachs Group increased their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on shares of Amgen from $332.00 to $328.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Leerink Partnrs downgraded shares of Amgen from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $305.05.
Read Our Latest Research Report on AMGN
Insider Buying and Selling
In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company's stock.
Institutional Investors Weigh In On Amgen
A number of institutional investors have recently modified their holdings of AMGN. Briaud Financial Planning Inc bought a new stake in shares of Amgen in the 3rd quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen during the fourth quarter valued at $29,000. United Community Bank bought a new stake in Amgen during the fourth quarter valued at $29,000. Horizon Financial Services LLC acquired a new stake in shares of Amgen during the first quarter worth $28,000. Finally, OFI Invest Asset Management bought a new position in shares of Amgen in the 3rd quarter worth about $26,000. Institutional investors and hedge funds own 76.50% of the company's stock.
Amgen Price Performance
The firm has a market capitalization of $166.97 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 2.68 and a beta of 0.60. The company's fifty day moving average price is $274.51 and its 200 day moving average price is $281.33. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.
About Amgen
(
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
Before you consider Amgen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amgen wasn't on the list.
While Amgen currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
