Amgen (NASDAQ:AMGN) Hits New 52-Week High – Here’s Why

Amgen Inc. (NASDAQ:AMGN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $443.57 and last traded at $443.5440, with a volume of 1069580 shares trading hands. The stock had previously closed at $439.33.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Citigroup lifted their price target on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Truist Financial raised their target price on Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Bank of America boosted their target price on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Mizuho raised their price objective on shares of Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $380.43.

Amgen Stock Down 0.4%

The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The firm’s 50 day moving average price is $382.78 and its two-hundred day moving average price is $363.35. The firm has a market cap of $239.09 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 3.20 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amgen

Institutional investors have recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC raised its position in 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 acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC boosted its position in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Tower View Wealth Management LLC boosted its position in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Ares Financial Consulting LLC acquired a new position in shares of Amgen during the 4th quarter worth $34,000. Hedge funds and other 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.