Amgen (NASDAQ:AMGN) Issues Quarterly Earnings Results

Amgen (NASDAQ:AMGN) announced its quarterly earnings data on Tuesday. The medical research company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27, Zacks reports. Amgen had a return on equity of 168.35% and a net margin of 13.00%.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $0.15 during mid-day trading on Tuesday, hitting $289.02. The company had a trading volume of 3,243,732 shares, compared to its average volume of 3,136,518. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $155.36 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.87 and a beta of 0.56. The stock’s 50-day moving average price is $270.95 and its 200-day moving average price is $303.82.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.29%. Amgen’s payout ratio is presently 115.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMGN. Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup lowered their price objective on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, Bank of America reaffirmed an “underperform” rating and set a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $314.00.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.