Shares of Amgen Inc. (NASDAQ:AMGN – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $486.25 and last traded at $478.5940, with a volume of 74,523 shares changing hands. The stock had previously closed at $461.26.
The medical research company reported $6.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.79 by $0.66. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the firm earned $5.64 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis.
Amgen Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 20th. Amgen’s payout ratio is presently 62.65%.
Key Stories Impacting Amgen
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Amgen beat estimates, reporting Q3 revenue of $10.37 billion, up 8.5% year over year, and adjusted EPS of $6.45. It raised its 2026 revenue outlook to $38.9 billion–$39.7 billion and GAAP EPS outlook to $18.34–$19.28. Article: Amgen lifts 2026 outlook
- Positive Sentiment: Growth in medicines including Repatha and Imdelltra helped offset pressure elsewhere. Positive Phase 3 findings for Imdelltra, Tezspire and dazodalibep also support Amgen’s longer-term pipeline prospects. Article: How Investors May Respond To Amgen Earnings Beat
- Neutral Sentiment: Analyst price-target changes were mixed: Bernstein raised its target to $400 and BMO Capital to $442, while Cantor Fitzgerald lifted its target to $465 and kept a neutral rating. Article: BMO Capital adjusts price target
- Negative Sentiment: Investors focused on falling Prolia and Xgeva sales as biosimilar competition intensifies. Those declines tempered the otherwise positive earnings report and help explain why the shares weakened despite the beat and higher guidance. Article: AMGN Stock Down Despite Q3 Earnings & Sales Beat, Raised Guidance
- Negative Sentiment: The FDA issued Amgen a warning letter over allegedly misleading promotion of Vectibix, adding regulatory risk. Article: Amgen Gets FDA Warning Letter Over Vectibix Promotion
Analyst Ratings Changes
AMGN has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Amgen from $362.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Morgan Stanley decreased their price objective on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 7th. Oppenheimer reissued an “outperform” rating on shares of Amgen in a report on Friday, October 23rd. UBS Group increased their price objective on shares of Amgen from $430.00 to $470.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Finally, Weiss Ratings raised Amgen from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $393.68.
Get Our Latest Analysis on Amgen
Insider Activity at Amgen
In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction 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. The trade was a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.
Institutional Trading of Amgen
Several institutional investors and hedge funds have recently bought and sold shares of AMGN. State Street Corp increased its position in Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after buying an additional 11,656,755 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Amgen in the 2nd quarter worth $1,831,903,000. Wellington Management Group LLP increased its holdings in shares of Amgen by 1,102.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after buying an additional 2,514,254 shares during the last quarter. BlackRock Inc. boosted its holdings in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Amgen by 702.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock valued at $647,126,000 after acquiring an additional 1,344,010 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Amgen Trading Up 1.8%
The stock has a market capitalization of $253.90 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.41 and a beta of 0.43. The business’s 50-day simple moving average is $420.83 and its two-hundred day simple moving average is $376.16. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.
Amgen Company Profile
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.
The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.
Founded in 1980, Amgen is headquartered in Thousand Oaks, California.
Featured Articles
- Five stocks we like better than Amgen
- Meta’s $100 Billion AI Financing Plan Has a Catch for Existing Shareholders
- Tower Semiconductor’s Earnings Are Soaring—So Why Is Its Stock Down More Than 50%?
- Shopify’s Small Q3 Miss Triggered a Big Sell-Off: What’s Next?
- Can Oil’s Big Rally Deliver Reliable Income? 3 Energy Plays to Watch
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.
