Amgen (NASDAQ:AMGN) Announces Quarterly Earnings Results

Amgen (NASDAQ:AMGN) issued its earnings results on Tuesday. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67, Zacks reports. Amgen had a return on equity of 137.41% and a net margin of 20.96%.

Amgen Stock Performance

AMGN stock traded up $11.76 during midday trading on Tuesday, hitting $390.63. 2,048,564 shares of the company traded hands, compared to its average volume of 2,725,491. Amgen has a twelve month low of $269.77 and a twelve month high of $398.00. The stock has a market capitalization of $210.83 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 3.90 and a beta of 0.41. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The business has a 50 day simple moving average of $357.39 and a 200-day simple moving average of $354.35.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is 70.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group raised their price target on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Barclays increased their price objective on Amgen from $350.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Weiss Ratings cut shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. Finally, Truist Financial boosted their target price on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $357.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sittner & Nelson LLC boosted its holdings in shares of Amgen by 0.4% during the third quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock worth $2,053,000 after purchasing an additional 30 shares during the period. Insigneo Advisory Services LLC increased its stake in Amgen by 1.0% in the 4th quarter. Insigneo Advisory Services LLC now owns 3,047 shares of the medical research company’s stock valued at $997,000 after buying an additional 30 shares during the period. Inspire Advisors LLC lifted its position in Amgen by 4.3% in the 4th quarter. Inspire Advisors LLC now owns 753 shares of the medical research company’s stock worth $246,000 after buying an additional 31 shares in the last quarter. Beck Mack & Oliver LLC lifted its position in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 5,062 shares of the medical research company’s stock worth $1,657,000 after buying an additional 33 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Amgen by 21.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 189 shares of the medical research company’s stock valued at $62,000 after buying an additional 33 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Obesity pipeline progress: Amgen extended its Phase 3 MARITIME-1-EXTENSION study, providing additional data on the durability of its experimental weight-loss treatment. The program is viewed as a potentially important long-term growth opportunity in the highly competitive obesity market. Amgen Extends Obesity Trial, Sharpening Its Long-Term Weight-Loss Bet
• Positive Sentiment: Pipeline expansion: Early-stage testing of AMG 127 signals Amgen’s efforts to enter the type 2 diabetes market, although the program remains highly speculative and is years from potential commercialization. Amgen’s AMG 127 Trial Signals a New Push Into Type 2 Diabetes
• Positive Sentiment: Earnings optimism: Pre-earnings coverage points to newer products potentially offsetting declines in Amgen’s legacy portfolio. Analysts are also assessing whether the company can exceed second-quarter expectations, supporting investor interest ahead of its report. Amgen To Report Earnings Tomorrow
• Positive Sentiment: Market backdrop: U.S. equities rallied on upbeat earnings and hopes for progress on geopolitical issues, creating a favorable environment for large-cap healthcare stocks. Equities Rally Intraday Amid Upbeat Earnings
• Neutral Sentiment: A license agreement with Kaléo gives Amgen access to patented auto-injector technology. Financial terms were not disclosed, limiting the immediate valuation impact. Kaléo Announces License Agreement with Amgen
• Neutral Sentiment: Analyst coverage currently reflects a consensus “Hold” rating, while value-stock comparisons with Bristol Myers Squibb highlight Amgen’s valuation and growth trade-offs rather than a new company-specific catalyst. Amgen Receives Consensus Hold Rating
• Negative Sentiment: Amgen disclosed a material cyber breach involving patient and proprietary information. The scope, costs, regulatory consequences and potential litigation remain uncertain, creating a risk overhang. Amgen Reveals Material Cyber Breach

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.