The stock of Amgen Inc. (NASDAQ:AMGN) increased by $1.16 on Tuesday to finish at $264.31, up 0.44 percent. The last five days have seen an average of 2,942,940 shares of common stock traded. 5 times new highs were reached in the current year, with a gain of $1.67. The average number of shares traded over the last 20 days was 2,174,690, while the average volume over the last 50 days totaled 2,505,742.
AMGN stock appreciated 0.95% since last month. On 09/06/23, the company’s shares reached a one-month low of $248.38. The stock touched a high of $296.67 on 01/11/23, after rallying from a low of $211.71 in 52 weeks. The price of AMGN stock has risen by 0.64% or $1.67 this year, reaching a new high 5 times. Still, the stock price is down -10.91% 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 1 day ago on Sep 19. On Sep 19, 10% Owner AMGEN INC acquired 1,764,705 shares at $17.00 each. This transaction resulted in the insider spending $29,999,985. On Aug 10, Gordon Murdo sold 9,558 shares at a price of US$262.43. After the transaction, the insider now owns 44,308 shares. SVP, Business Development Khosla Rachna had earlier sold 387 shares on Nov 09 for $292.90 a share. The transaction was completed for $113,352.
Valuation Metrics
Amgen Inc. (AMGN) has a trailing price-to-earnings (P/E) ratio of 17.82. Beta for the stock is 0.61. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.35, the price-to-book (PB) ratio of 20.86, and the price-to-cash flow ratio of 14.69.
Company paid $2.13 per share in dividends, remained unchanged from $2.13 last year. A $0.19 dividend increase was reported on Monday December 12 2022.
Financial Health
For the three months ended June 29, Amgen Inc.’s quick ratio was 2.50, while its current ratio was 2.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 8.76, and the total debt to equity ratio is 9.08. As far as profitability goes, gross margin for the trailing twelve months is 74.50% percent. Amgen Inc.’s EBITDA margin for the year ended June 29 was 48.28%, whereas its operating margin stood at 36.40% for the same period. Based on annual data, it had gross profit of $19.92 billion and revenue of $26.32 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AMGN’s return on assets (ROA) during the last 12 months has been 10.40%. There was a 20.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 164.20%.
Earnings Surprise
According to Amgen Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $6.99 billion, while revenues rose by 5.61% to $6.11 billion. It was predicted that Amgen Inc.’s quarterly earnings would be $5, but it ended up being $4.49, beating the consensus by 11.40%. EBITDA was $3.58 billion for the quarter. At the end of Amgen Inc.’s most recent quarter ended June 29, its liabilities totaled 83.49 billion, while its total debt was $61.54 billion. Equity owned by shareholders amounts to $534.9 million.
Technical Picture
Here’s a quick look at Amgen Inc.’s (AMGN) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 63.04%, suggesting the stock is Neutral, with a 17.65% historical volatility rate.
The stochastic %K and %D were 86.22% and 83.80% respectively, while the average true range (ATR) was 4.40. Based on the 14-day stochastic reading of 91.60%, the RSI (14) reading is 61.94%. On the 9-day MACD Oscillator, the stock is at 2.33, and the 14-day reading is at 4.33.
Analyst Ratings
In its analyst report released on September 06, 2023, HSBC Securities began covering Amgen Inc. (NASDAQ: AMGN). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Amgen Inc. (AMGN) an Overweight rating. AMGN is a stock that is recommended for selling by 2 brokerage firms, while 12 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 10 others recommend it as a buy.
What is AMGN’s price target for the next 12 months?
The current consensus forecast for the stock is between $185.00 and $320.00, with a median target price of $264.00. In analyzing these forecasts, the average price target given by analysts for Amgen Inc. (AMGN) is $260.76.
