Amgen Inc. (NASDAQ:AMGN) saw an upside of 3.97% to close Monday at $252.94 after adding $9.66 on the day. The 5-day average trading volume is 3,203,700 shares of the company’s common stock. It has gained $253.82 in the past week and touched a new high 3 times within the past 5 days. An average of 2,808,890 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,789,588.
AMGN’s 1-month performance is 15.68% or $34.29 on its low of $218.61 reached on 07/10/23. The company’s shares have touched a 52-week low of $211.71 and high of $296.67, with the stock’s rally to the 52-week high happening on 01/11/23. YTD, AMGN has lost -3.69% or -$9.70 and has reached a new high 5 times. However, the current price is down -14.74% from the 52-week high price.
Insider Transactions
AMGN stock investors last saw insider trading activity on Nov 09.Khosla Rachna (SVP, Business Development) most recently sold 387 shares at $292.90 per share on Nov 09. This transaction cost the insider $113,352. SVP & CCO, Grygiel Nancy A., sold 545 shares at a price of $293.54 on Nov 08. Then, on Aug 22, Director Williams R Sanders sold 200 shares at a price of $249.96 per share. This transaction amounted to $49,992.
Valuation Metrics
AMGN stock has a beta of 0.62. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.89 while the price-to-book (PB) in the most recent quarter is 25.27, with the price to cash flow ratio at 27.93.
Amgen Inc.’s quick ratio for the period ended June 29 was 2.80, with the current ratio over the same period at 3.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 11.36, while the total debt to equity was 11.52. In terms of profitability, the gross margin trailing 12 months is 75.10%. The trailing 12-month EBITDA margin is 48.28% while for the period ending June 29, Amgen Inc.’s operating margin was 36.80%. The firm’s gross profit as reported stood at $19.92 billion against revenue of $26.32 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 4.5% to $1.38 billion, while revenue of $2.84 billion was -106.02% off the previous quarter. Analysts expected AMGN to announce $4.49 per share in earnings in its latest quarter, but it posted $5, representing a 11.40% surprise. EBITDA for the quarter stood at more than $3.58 billion. AMGN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 83.49 billion, with total debt at $61.54 billion. Shareholders hold equity totaling $534.9 million.
Let’s look briefly at Amgen Inc. (AMGN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 83.21% to suggest the stock is trending Overbought, with historical volatility in this time period at 32.78%.
The stock’s 5-day moving average is $237.89, reflecting a +8.02% or $18.79 change from its current price. AMGN is currently trading +12.55% above its 20-day SMA, +9.70% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +14.29% and SMA200 by+0.33%.
Stochastic %K and %D was 75.02% and 59.94% and the average true range (ATR) pointed at 5.71. The RSI (14) points at 77.62%, while the 14-day stochastic is at 96.56% with the period’s ATR at 5.15. The stock’s 9-day MACD Oscillator is pointing at 5.50 and 6.45 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Amgen Inc. (NASDAQ: AMGN), Oppenheimer reiterated its an Outperform rating for the company but lifted their price target by $292 to $290.
What is AMGN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $175.00 and a high of $310.00, with their median price target at $260.00. Looking at these predictions, the average price target given by analysts is for Amgen Inc. (AMGN) stock is $248.83.
