Amgen (NASDAQ:AMGN) Issues Earnings Results

Amgen (NASDAQ:AMGN) issued its quarterly earnings data on Tuesday. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67, Zacks reports. Amgen had a net margin of 20.96% and a return on equity of 137.41%.

Amgen Stock Up 3.1%

NASDAQ:AMGN traded up $11.76 during mid-day trading on Tuesday, reaching $390.63. The stock had a trading volume of 2,048,564 shares, compared to its average volume of 2,725,491. The company has a market capitalization of $210.83 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 3.90 and a beta of 0.41. Amgen has a 1-year low of $269.77 and a 1-year high of $398.00. The stock’s 50 day simple moving average is $357.39 and its two-hundred day simple moving average is $354.35. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

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 given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.6%. Amgen’s dividend payout ratio (DPR) is presently 70.15%.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Obesity pipeline progress: Amgen extended its Phase 3 MARITIME-1-EXTENSION study, providing additional data on the durability of its experimental weight-loss treatment. The program is viewed as a potentially important long-term growth opportunity in the highly competitive obesity market. Amgen Extends Obesity Trial, Sharpening Its Long-Term Weight-Loss Bet
• Positive Sentiment: Pipeline expansion: Early-stage testing of AMG 127 signals Amgen’s efforts to enter the type 2 diabetes market, although the program remains highly speculative and is years from potential commercialization. Amgen’s AMG 127 Trial Signals a New Push Into Type 2 Diabetes
• Positive Sentiment: Earnings optimism: Pre-earnings coverage points to newer products potentially offsetting declines in Amgen’s legacy portfolio. Analysts are also assessing whether the company can exceed second-quarter expectations, supporting investor interest ahead of its report. Amgen To Report Earnings Tomorrow
• Positive Sentiment: Market backdrop: U.S. equities rallied on upbeat earnings and hopes for progress on geopolitical issues, creating a favorable environment for large-cap healthcare stocks. Equities Rally Intraday Amid Upbeat Earnings
• Neutral Sentiment: A license agreement with Kaléo gives Amgen access to patented auto-injector technology. Financial terms were not disclosed, limiting the immediate valuation impact. Kaléo Announces License Agreement with Amgen
• Neutral Sentiment: Analyst coverage currently reflects a consensus “Hold” rating, while value-stock comparisons with Bristol Myers Squibb highlight Amgen’s valuation and growth trade-offs rather than a new company-specific catalyst. Amgen Receives Consensus Hold Rating
• Negative Sentiment: Amgen disclosed a material cyber breach involving patient and proprietary information. The scope, costs, regulatory consequences and potential litigation remain uncertain, creating a risk overhang. Amgen Reveals Material Cyber Breach

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMGN. UBS Group lifted their target price on Amgen from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Royal Bank Of Canada restated a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Erste Group Bank restated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Daiwa Securities Group cut their target price on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $357.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Northern Trust Corp increased its stake in Amgen by 0.6% during the fourth quarter. Northern Trust Corp now owns 6,181,658 shares of the medical research company’s stock valued at $2,023,318,000 after purchasing an additional 37,178 shares during the last quarter. Amundi lifted its holdings in Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after acquiring an additional 988,856 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Amgen by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,230,979 shares of the medical research company’s stock valued at $1,057,561,000 after acquiring an additional 52,389 shares during the period. Ameriprise Financial Inc. raised its position in shares of Amgen by 16.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,467,959 shares of the medical research company’s stock worth $688,649,000 after purchasing an additional 345,242 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Amgen by 1.2% during the 3rd quarter. Raymond James Financial Inc. now owns 1,746,516 shares of the medical research company’s stock worth $492,864,000 after buying an additional 20,888 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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.