Amgen (NASDAQ:AMGN) Issues Earnings Results

Amgen (NASDAQ:AMGN) issued its quarterly earnings data on Tuesday. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63, Zacks reports. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter in the previous year, the business earned $5.58 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen updated its FY 2025 guidance to 20.600-21.400 EPS.

Amgen Trading Up 0.1%

NASDAQ:AMGN opened at $296.70 on Wednesday. The stock has a fifty day moving average price of $288.05 and a two-hundred day moving average price of $287.76. The stock has a market capitalization of $159.73 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio is presently 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Darwin Wealth Management LLC purchased a new position in Amgen in the second quarter worth $135,000. Florida Financial Advisors LLC purchased a new position in Amgen in the second quarter worth $202,000. Oxford Asset Management LLP acquired a new stake in Amgen in the second quarter valued at $322,000. Sivia Capital Partners LLC grew its holdings in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after purchasing an additional 114 shares during the last quarter. Finally, 44 Wealth Management LLC grew its holdings in Amgen by 5.0% in the second quarter. 44 Wealth Management LLC now owns 1,257 shares of the medical research company’s stock valued at $351,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMGN. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research note on Monday, August 25th. Finally, Bank of America upped their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $300.94.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.