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

Amgen (NASDAQ:AMGN) posted its quarterly earnings data on Tuesday. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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 Up 0.1 %

NASDAQ:AMGN traded up $0.15 during mid-day trading on Tuesday, hitting $289.02. 3,209,018 shares of the company’s stock were exchanged, compared to its average volume of 3,133,190. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a market cap of $155.36 billion, a PE ratio of 37.01, a P/E/G ratio of 2.87 and a beta of 0.56. The business has a fifty day moving average price of $270.95 and a 200 day moving average price of $303.82. Amgen has a one year low of $253.30 and a one year high of $346.85.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.29%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Piper Sandler lowered their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.