Amgen (NASDAQ:AMGN) Posts Earnings Results, Beats Expectations 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, beating the consensus estimate 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 Trading Up 0.1 %

AMGN traded up $0.15 during midday trading on Tuesday, reaching $289.02. 3,243,732 shares of the company’s stock traded hands, compared to its average volume of 3,136,518. 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. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a fifty day moving average of $270.95 and a two-hundred day moving average of $303.82. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

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 issued a dividend of $2.38 per share. 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. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Citigroup cut their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research report on Friday, January 24th. Finally, Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.