AMGEN Inc. (NASDAQ:AMGN) saw an upside of 0.82% to close Tuesday at $269.04 after adding $2.18 on the day. The 5-day average trading volume is 2,396,020 shares of the company’s common stock. It has gained $273.08 in the past week and touched a new high 1 time within the past 5 days. An average of 2,307,990 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,534,564.
AMGN’s 1-month performance is 4.94% or $12.66 on its low of $248.38 reached on 09/06/23. 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 achieved 2.44% or $6.40 and has reached a new high 5 times. However, the current price is down -9.31% from the 52-week high price.
Insider Transactions
AMGN stock investors last saw insider trading activity on Sep 19.Gordon Murdo (EVP, Global Commercial Ops) most recently sold 9,558 shares at $262.43 per share on Aug 10. This transaction cost the insider $2,508,306. SVP, Business Development, Khosla Rachna, sold 387 shares at a price of $292.90 on Nov 09. Then, on Nov 08, SVP & CCO Grygiel Nancy A. sold 545 shares at a price of $293.54 per share. This transaction amounted to $159,977.
Valuation Metrics
AMGN stock has a beta of 0.60. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.46 while the price-to-book (PB) in the most recent quarter is 21.22, with the price to cash flow ratio at 14.86.
AMGEN Inc.’s quick ratio for the period ended June 29 was 2.48, with the current ratio over the same period at 2.77. As well, the company’s long term debt to equity for the quarter ending June 29 was 8.76, while the total debt to equity was 9.08.. In terms of profitability, the gross margin trailing 12 months is 73.93%. The trailing 12-month EBITDA margin is 48.28% while for the period ending June 29, AMGEN Inc.’s operating margin was 35.14%. 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 26 September was 64.02% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.76%.
The stock’s 5-day moving average is $268.89, reflecting a +1.79% or $4.73 change from its current price. AMGN is currently trading +4.87% above its 20-day SMA, +17.33% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +18.08% and SMA200 by-5.85%.
Stochastic %K and %D was 78.42% and 81.15% and the average true range (ATR) pointed at 4.45. The RSI (14) points at 63.17%, while the 14-day stochastic is at 82.21% with the period’s ATR at 4.48. The stock’s 9-day MACD Oscillator is pointing at 1.76 and 4.44 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for AMGEN Inc. (NASDAQ: AMGN), HSBC Securities launched coverage with a Buy rating. Analysts offering their rating for AMGN stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate AMGN as a “sell,”, while 12 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.
What is AMGN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $185.00 and a high of $320.00, with their median price target at $262.95. Looking at these predictions, the average price target given by analysts is for AMGEN Inc. (AMGN) stock is $260.83.
