Amgen Inc. [AMGN] Stock trading around $228.31 per share: What’s Next?

Amgen Inc. [NASDAQ: AMGN] loss -6.46% or -15.77 points to close at $228.31 with a heavy trading volume of 6873591 shares. The company report on August 4, 2021 that Amgen Reports Second Quarter 2021 Financial Results.

Amgen (NASDAQ:AMGN) announced financial results for the second quarter of 2021. Key results include:.

Total revenues increased 5% to $6.5 billion in comparison to the second quarter of 2020, driven by higher unit demand, partially offset by lower net selling prices.

It opened the trading session at $238.37, the shares rose to $239.42 and dropped to $227.10, the range by which the price of stock traded the whole day. The daily chart for AMGN points out that the company has recorded -3.70% loss over the past six months. However, it is still -8.57% lower than its most recent low trading price.

If we look at the average trading volume of 2.43M shares, AMGN reached to a volume of 6873591 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Amgen Inc. [AMGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMGN shares is $254.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMGN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Daiwa Securities have made an estimate for Amgen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 29, 2020. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on October 28, 2020, representing the official price target for Amgen Inc. stock. Previously, the target price had yet another raise to $255, while Raymond James analysts kept a Outperform rating on AMGN stock.

The Average True Range (ATR) for Amgen Inc. is set at 4.66, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 5.23. The Price to Book ratio for the last quarter was 14.11, with the Price to Cash per share for the same quarter was set at 18.32. Price to Free Cash Flow for AMGN in the course of the last twelve months was 21.91 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for AMGN stock

Amgen Inc. [AMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.53. With this latest performance, AMGN shares dropped by -6.30% in over the last four-week period, additionally sinking by -3.70% over the last 6 months – not to mention a drop of -6.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMGN stock in for the last two-week period is set at 28.71, with the RSI for the last a single of trading hit 23.22, and the three-weeks RSI is set at 33.40 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 241.78, while it was recorded at 239.24 for the last single week of trading, and 238.70 for the last 200 days.

Amgen Inc. [AMGN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Amgen Inc. [AMGN] shares currently have an operating margin of +35.49 and a Gross Margin at +75.60. Amgen Inc.’s Net Margin is presently recorded at +28.77.

Return on Total Capital for AMGN is now 21.60, given the latest momentum, and Return on Invested Capital for the company is 18.25. Return on Equity for this stock inclined to 76.13, with Return on Assets sitting at 11.84. When it comes to the capital structure of this company, Amgen Inc. [AMGN] has a Total Debt to Total Equity ratio set at 355.46. Additionally, AMGN Total Debt to Total Capital is recorded at 78.04, with Total Debt to Total Assets ending up at 53.13. Long-Term Debt to Equity for the company is recorded at 352.86, with the Long-Term Debt to Total Capital now at 77.47.

Reflecting on the efficiency of the workforce at the company, Amgen Inc. [AMGN] managed to generate an average of $298,930 per employee. Receivables Turnover for the company is 5.06 with a Total Asset Turnover recorded at a value of 0.41.Amgen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.70.

Amgen Inc. [AMGN]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMGN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amgen Inc. go to 6.08%.

An analysis of insider ownership at Amgen Inc. [AMGN]

There are presently around $99,852 million, or 77.90% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 48,772,074, which is approximately 2.021% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 47,205,904 shares of the stock with an approximate value of $10.78 billion in AMGN stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $7.45 billion in AMGN stock with ownership of nearly 2.696% of the company’s market capitalization.

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Positions in Amgen Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 1,043 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 17,613,218 shares. Additionally, 966 investors decreased positions by around 18,946,180 shares, while 306 investors held positions by with 400,791,186 shares. The mentioned changes placed institutional holdings at 437,350,584 shares, according to the latest SEC report filing. AMGN stock had 134 new institutional investments in for a total of 1,225,772 shares, while 103 institutional investors sold positions of 1,408,167 shares during the same period.

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