Amgen (NASDAQ:AMGN) Issues Quarterly Earnings Results, Beats Expectations By $0.27 EPS

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

Amgen Trading Up 0.1 %

NASDAQ AMGN traded up $0.15 during trading on Tuesday, hitting $289.02. The stock had a trading volume of 3,209,018 shares, compared to its average volume of 3,133,190. The stock 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 has a 50 day simple moving average of $270.95 and a 200 day simple moving average of $303.82. Amgen has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMGN. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Piper Sandler lowered their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.00.

About Amgen

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.