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

Amgen Inc. (NASDAQ:AMGN)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $349.80 and last traded at $349.25, with a volume of 524864 shares trading hands. The stock had previously closed at $343.60.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Argus lifted their price target on Amgen from $310.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Erste Group Bank upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, December 5th. Guggenheim boosted their price objective on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald upped their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.24.

Amgen Stock Performance

The stock has a 50-day moving average of $331.69 and a 200 day moving average of $306.90. The stock has a market cap of $187.02 billion, a PE ratio of 26.86, a P/E/G ratio of 2.94 and a beta of 0.45. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the company earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Amgen’s previous quarterly dividend of $2.38. Amgen’s payout ratio is 73.57%.

Insider Buying and Selling

In other Amgen news, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the sale, the executive vice president owned 41,923 shares of the company’s stock, valued at $14,120,924.09. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,908 shares of company stock worth $3,674,966. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in Amgen in the fourth quarter valued at $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 2nd quarter valued at about $27,000. Evelyn Partners Investment Management LLP acquired a new stake in shares of Amgen during the 2nd quarter worth about $32,000. Howard Hughes Medical Institute purchased a new stake in Amgen during the second quarter worth approximately $32,000. Finally, Olistico Wealth LLC acquired a new position in shares of Amgen in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

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.