Amgen Inc. (NASDAQ:AMGN) finished Friday with a subtraction of -$0.24 to close at $256.38, a downside of -0.09 percent. An average of 1,995,400 shares of common stock have been traded in the last five days. There was a fall of -$5.44 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 2,605,670 shares traded, while the 50-day average volume stands at 2,666,360.
AMGN stock has increased by 8.61% in the last month. The company shares reached their 1-month lowest point of $228.21 on 08/03/23. With the stock rallying to its 52-week high on 01/11/23, shares of the company touched a low of $211.71 and a high of $296.67 in 52 weeks. It has reached a new high 5 times so far this year and lost -2.38% or -$6.26 in price. In spite of this, the price is down -13.58% from the 52-week high.
Insider Transactions
AMGN stock investors should be aware that Amgen Inc. (AMGN) stock had its last reported insider trading activity 16 days ago on Aug 10. In this transaction, the insider spent $2,508,306. SVP, Business Development, Khosla Rachna, disposed of 387 shares at a price of $292.90 on Nov 09. The insider now owns more than $113,352 worth of shares. Prior to that, SVP & CCO Grygiel Nancy A. went on to Sale 545 shares at $293.54 each on Nov 08. An amount of $159,977 was transacted.
Valuation Metrics
Amgen Inc. (AMGN) has a trailing price-to-earnings (P/E) ratio of 17.28. The stock’s beta is 0.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.20, the price-to-book (PB) ratio at 20.24, and the price-to-cash flow ratio at 14.27.
The company has a payout ratio of 54.50%. The company’s most recent quarterly dividend payment was $2.13 a share, without any change from last year. Its latest increase dividend $0.19 reported on Monday December 12 2022.
Financial Health
The quick ratio of Amgen Inc. for the three months ended June 29 was 2.50, and the current ratio was 2.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 8.76 and a total debt to equity ratio of 9.08 for the quarter ending June 29. Amgen Inc.’s EBITDA margin for the year ending June 29 is 48.28%, while its operating margin for the same period stands at 36.40%. Its gross profit as reported stood at $19.92 billion compared to revenue of $26.32 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Amgen Inc.’s return on assets was 10.40%.
Earnings Surprise
For the three-month period that ended June 29, Amgen Inc. had $59.38 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $1.38 billion in the quarter, while revenues of $2.84 billion were grew 4.5%. The analyst consensus anticipated Amgen Inc.’s latest quarter earnings to come in at $4.49 per share, but it turned out to be $5, a 11.40% surprise. For the quarter, EBITDA amounted to $3.58 billion. Shareholders own equity worth $534.9 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Amgen Inc. (AMGN) price momentum. RSI 9-day as of the close on 25 August was 54.08%, suggesting the stock is Neutral, with historical volatility in this time frame at 12.79%.
As of today, AMGN’s price is $257.74 -2.08% or -$5.44 from its 5-day moving average. AMGN is currently trading +8.47% higher than its 20-day SMA and +4.88% higher than its 100-day SMA. However, the stock’s current price level is +15.34% above the SMA50 and -7.45% below the SMA200.
The stochastic %K and %D were 43.33% and 60.17%, respectively, and the average true range (ATR) was 4.29. With the 14-day stochastic at 11.69% and the average true range at 4.47, the RSI (14) stands at 60.63%. The stock has reached -3.81 on the 9-day MACD Oscillator while the 14-day reading was at -4.00.
Analyst Ratings
Oppenheimer reiterated its an Outperform rating on Amgen Inc. (NASDAQ: AMGN), but raised their price target to $292, indicating a potential price increase of 12.2% for the stock. The consensus rating for Amgen Inc. (AMGN) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell AMGN, while 13 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.
What is AMGN’s price target for the next 12 months?
Analysts predict a range of price targets between $175.00 and $310.00, with a median target of $260.00. Taking a look at these predictions, the average price target given by analysts for Amgen Inc. (AMGN) stock is $252.94.
