Amgen (NASDAQ:AMGN) Sets New 1-Year High - Should You Buy?

Key Points

• Amgen shares reached a new 52-week high, trading as high as $447.37 and most recently around $446.22, well above the 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $388.64, although several firms recently raised their targets, including UBS to $470 and Argus to $460.
• Amgen reported quarterly results above expectations, with $6.29 in EPS and $10.05 billion in revenue, while revenue increased 9.5% year over year. The company also pays a $2.52 quarterly dividend, equivalent to a 2.3% yield.

Amgen Inc. (NASDAQ:AMGN - Get Free Report)'s share price hit a new 52-week high during trading on Thursday. The stock traded as high as $447.37 and last traded at $446.2170, with a volume of 418,349 shares changing hands. The stock had previously closed at $438.34.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. Cantor Fitzgerald raised their price objective on Amgen from $400.00 to $440.00 and gave the company a "neutral" rating in a report on Monday, October 5th. TD Cowen upped their target price on Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their price target on shares of Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Argus lifted their price target on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Finally, UBS Group boosted their price objective on shares of Amgen from $430.00 to $470.00 and gave the stock a "buy" rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $388.64.

Amgen Stock Performance

The stock has a market cap of $241.81 billion, a PE ratio of 27.80, a P/E/G ratio of 3.21 and a beta of 0.41. The company has a fifty day moving average price of $416.63 and a 200 day moving average price of $376.69. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same period in the prior year, the business posted $6.02 EPS. Amgen's quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts expect that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 21st. Amgen's dividend payout ratio is 62.65%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company's stock, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was 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 directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock worth $2,540,926 in the last 90 days. Company insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wellington Altus USA Inc. grew its position in shares of Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after buying an additional 34 shares during the last quarter. Tower View Wealth Management LLC raised its holdings in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Nvwm LLC raised its holdings in shares of Amgen by 412.5% during the third quarter. Nvwm LLC now owns 82 shares of the medical research company's stock valued at $35,000 after acquiring an additional 66 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Amgen in the second quarter worth $36,000. Finally, PFS Partners LLC lifted its stake in Amgen by 95.5% in the third quarter. PFS Partners LLC now owns 86 shares of the medical research company's stock worth $36,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Company Profile

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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