Amgen (NASDAQ:AMGN) Sets New 52-Week High – Here’s What Happened

Amgen Inc. (NASDAQ:AMGN) shares reached a new 52-week high on Tuesday . The stock traded as high as $420.97 and last traded at $417.2320, with a volume of 109529 shares. The stock had previously closed at $417.20.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AMGN. Piper Sandler restated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Wells Fargo & Company increased their price target on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Bank of America lifted their price objective on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 5th. Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, UBS Group raised their target price on Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $371.68.

Amgen Stock Up 0.5%

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 stock’s 50-day moving average price is $367.82 and its 200-day moving average price is $358.02. The company has a market cap of $225.00 billion, a P/E ratio of 25.87, a PEG ratio of 3.85 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, research analysts forecast that Amgen Inc. will post 22.78 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Amgen

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