Amgen (NASDAQ:AMGN) Sets New 1-Year High After Earnings Beat

Shares of Amgen Inc. (NASDAQ:AMGN) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $414.97 and last traded at $411.57, with a volume of 1073411 shares traded. The stock had previously closed at $390.02.

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 137.41% and a net margin of 20.96%.The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same period in the prior year, the business posted $6.02 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.4%. Amgen’s dividend payout ratio is currently 70.15%.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Amgen reported revenue of $10.05 billion, up 9.5% year over year, and adjusted EPS of $6.29 versus the $5.62 consensus estimate. Twenty-two products delivered double-digit sales growth, led by Repatha and Evenity. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the $37.8 billion analyst estimate, while EPS guidance is $22.30 to $23.50. The improved outlook reinforces confidence in portfolio growth. Amgen Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Several firms became more bullish: BMO Capital Markets and Oppenheimer raised their targets to $450 and maintained “outperform” ratings. RBC also raised its target to $400 and upgraded its view to “outperform.” William Blair reiterated a Buy rating, citing the earnings beat, higher guidance and late-stage pipeline catalysts. Benzinga analyst ratings

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. Truist Financial boosted their price target on shares of Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a research report on Wednesday. Guggenheim lifted their price objective on Amgen from $340.00 to $343.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Daiwa Securities Group decreased their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $350.00 price target on shares of Amgen in a report on Monday, July 6th. Finally, Oppenheimer boosted their price objective on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $361.30.

Hedge Funds Weigh In On Amgen

Institutional investors have recently modified their holdings of the company. North Dakota State Investment Board raised its holdings in shares of Amgen by 0.3% during the 2nd quarter. North Dakota State Investment Board now owns 15,994 shares of the medical research company’s stock valued at $5,792,000 after buying an additional 50 shares in the last quarter. USA Financial Formulas purchased a new stake in Amgen in the first quarter worth approximately $655,000. Aviso Wealth Management grew its position in Amgen by 3.1% during the second quarter. Aviso Wealth Management now owns 2,681 shares of the medical research company’s stock valued at $971,000 after acquiring an additional 80 shares during the last quarter. Investment Research Partners LLC grew its position in Amgen by 6.1% during the second quarter. Investment Research Partners LLC now owns 3,890 shares of the medical research company’s stock valued at $1,409,000 after acquiring an additional 224 shares during the last quarter. Finally, 71 West Capital Partners raised its stake in shares of Amgen by 58.8% during the second quarter. 71 West Capital Partners now owns 3,626 shares of the medical research company’s stock worth $1,313,000 after acquiring an additional 1,343 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

The stock has a market capitalization of $222.71 billion, a PE ratio of 28.72, a P/E/G ratio of 3.83 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $358.49 and its 200 day simple moving average is $354.79.

About Amgen

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.