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

Amgen Inc. (NASDAQ:AMGN)’s share price hit a new 52-week high on Wednesday . The company traded as high as $387.49 and last traded at $385.79, with a volume of 349272 shares. The stock had previously closed at $382.87.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMGN. UBS Group boosted their price objective on Amgen from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, January 26th. DZ Bank boosted their price target on shares of Amgen from $335.00 to $364.00 in a report on Monday, November 10th. Leerink Partners increased their price objective on shares of Amgen from $305.00 to $355.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Barclays initiated coverage on shares of Amgen in a research report on Friday, February 20th. They issued an “equal weight” rating and a $350.00 price objective on the stock. Finally, Sanford C. Bernstein cut shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 target price for the company. in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $351.76.

Amgen Stock Down 1.3%

The firm’s fifty day moving average is $347.68 and its two-hundred day moving average is $318.76. The firm has a market cap of $204.48 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 3.81 and a beta of 0.46. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.53. The company had revenue of $9.87 billion for the quarter, compared to the consensus estimate of $9.46 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. Amgen’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, sell-side analysts expect 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 given a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen’s payout ratio is 70.84%.

Institutional Trading of Amgen

Several institutional investors have recently modified their holdings of the company. Tempo Wealth LLC bought a new position in shares of Amgen during the 4th quarter valued at about $506,000. Thryve Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $339,000. MidFirst Bank acquired a new stake in Amgen during the fourth quarter valued at approximately $8,822,000. DGS Capital Management LLC boosted its holdings in Amgen by 17.1% during the fourth quarter. DGS Capital Management LLC now owns 2,089 shares of the medical research company’s stock worth $684,000 after buying an additional 305 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its position in Amgen by 31.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,871 shares of the medical research company’s stock worth $612,000 after buying an additional 444 shares during the last quarter. 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.