Amgen (NASDAQ:AMGN) Hits New 12-Month High – Still a Buy?

Amgen Inc. (NASDAQ:AMGN)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $387.49 and last traded at $385.79, with a volume of 349272 shares trading hands. The stock had previously closed at $382.87.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Erste Group Bank raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, December 5th. Barclays initiated coverage on shares of Amgen in a research report on Friday, February 20th. They issued an “equal weight” rating and a $350.00 price objective for the company. Wall Street Zen lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Daiwa Securities Group increased their target price on shares of Amgen from $370.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Finally, Argus raised their price target on shares of Amgen from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.76.

Amgen Stock Performance

The company has a market cap of $206.60 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 3.76 and a beta of 0.46. The company’s fifty day moving average is $345.41 and its 200 day moving average is $317.87. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The business had revenue of $9.87 billion during the quarter, compared to analyst estimates of $9.46 billion. During the same period in the prior year, the business posted $5.31 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 70.84%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dogwood Wealth Management LLC increased its position 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 valued at $25,000 after acquiring an additional 55 shares during the period. Anfield Capital Management LLC grew its stake in shares of Amgen by 1,000.0% in the fourth 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 during the last quarter. Board of the Pension Protection Fund purchased a new position in Amgen during the 4th quarter valued at about $26,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the 2nd quarter valued at about $27,000. Finally, Manning & Napier Advisors LLC raised its position in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.