Amgen (NASDAQ:AMGN) Sets New 52-Week High – Time to Buy?

by · The Cerbat Gem

Shares of Amgen Inc. (NASDAQ:AMGN – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $346.38 and last traded at $345.7960, with a volume of 1794519 shares changing hands. The stock had previously closed at $338.36.

Analyst Ratings Changes

AMGN has been the subject of several research reports. UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Scotiabank initiated coverage on shares of Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target for the company. Truist Financial initiated coverage on Amgen in a report on Monday, November 24th. They issued a “hold” rating and a $318.00 price target for the company. Morgan Stanley reduced their price objective on Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $335.65.

View Our Latest Research Report on AMGN

Amgen Price Performance

The company has a market cap of $186.02 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.05 and a beta of 0.45. The company’s 50-day moving average price is $309.57 and its two-hundred day moving average price is $296.07. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 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% compared to the same quarter last year. During the same period last year, the firm earned $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is currently 73.57%.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 over the last 90 days. 0.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amgen

A number of large investors have recently bought and sold shares of AMGN. Vanguard Group Inc. grew its stake in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 53,876,851 shares of the medical research company’s stock worth $15,204,047,000 after buying an additional 165,281 shares during the last quarter. State Street Corp boosted its holdings in shares of Amgen by 0.6% during the second quarter. State Street Corp now owns 29,357,026 shares of the medical research company’s stock valued at $8,196,775,000 after acquiring an additional 177,035 shares during the period. Capital International Investors grew its position in shares of Amgen by 1.5% during the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock worth $5,414,296,000 after acquiring an additional 282,219 shares during the last quarter. Capital World Investors increased its holdings in shares of Amgen by 11.5% in the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock worth $5,303,578,000 after acquiring an additional 1,935,876 shares during the period. Finally, Geode Capital Management LLC lifted its position in Amgen by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after purchasing an additional 291,271 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

About Amgen

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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