Amgen (NASDAQ:AMGN) Reaches New 1-Year High – Time to Buy?

Amgen Inc. (NASDAQ:AMGN)’s stock price hit a new 52-week high during mid-day 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

A number of equities research analysts recently issued reports on AMGN shares. BMO Capital Markets raised their price target on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Piper Sandler lifted their target price on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research note on Wednesday, August 5th. Citigroup raised their price target on shares of Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $380.43.

Amgen Stock Performance

The stock has a market capitalization of $240.16 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.17 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The firm has a 50-day moving average of $379.03 and a 200-day moving average of $362.07.

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

Amgen Announces Dividend

The company also recently announced 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 of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is presently 62.65%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMGN. California State Teachers Retirement System lifted its stake in Amgen by 36,047.1% during the 2nd quarter. California State Teachers Retirement System now owns 298,255,793 shares of the medical research company’s stock worth $108,004,388,000 after acquiring an additional 297,430,677 shares in the last quarter. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter worth about $2,164,162,000. Bank of America Corp DE purchased a new position in shares of Amgen in the second quarter valued at approximately $1,831,903,000. Capital World Investors grew its holdings in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Amgen by 1,102.7% in the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock valued at $993,031,000 after purchasing an additional 2,514,254 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

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.