Amgen (NASDAQ:AMGN) Sets New 12-Month High – Here’s Why

Amgen Inc. (NASDAQ:AMGN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $391.29 and last traded at $385.70, with a volume of 2837817 shares trading hands. The stock had previously closed at $388.16.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Morgan Stanley boosted their price target on shares of Amgen from $304.00 to $309.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. DZ Bank raised their price objective on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Argus boosted their target price on shares of Amgen from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Freedom Capital lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $351.76.

Amgen Trading Down 0.6%

The firm has a market capitalization of $207.92 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.85 and a beta of 0.45. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. The company has a fifty day moving average of $349.98 and a 200-day moving average of $320.61.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.53. The company had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio is presently 70.84%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dogwood Wealth Management LLC lifted its position in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after buying an additional 55 shares during the last quarter. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Amgen in the 4th quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the second quarter worth approximately $27,000. Finally, Manning & Napier Advisors LLC grew its holdings in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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.