Amgen Inc. [AMGN] Is Currently -1.16 below its 200 Period Moving Avg: What Does This Mean?

Amgen Inc. [NASDAQ: AMGN] loss -1.16% or -3.13 points to close at $265.88 with a heavy trading volume of 2766515 shares. The company report on November 3, 2022 that AMGEN REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS.

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Amgen (NASDAQ:AMGN) today announced financial results for the third quarter of 2022. Key results include:.

Total revenues decreased 1% to $6.7 billion in comparison to the third quarter of 2021, resulting from a 1% decline in global product sales, which reflected 8% volume growth offset primarily by 5% lower net selling price and 2% negative impact from foreign exchange. Excluding the 2% negative impact of foreign exchange on product sales, total revenues increased 2%.

It opened the trading session at $268.53, the shares rose to $268.60 and dropped to $265.02, the range by which the price of stock traded the whole day. The daily chart for AMGN points out that the company has recorded 13.45% gains over the past six months. However, it is still -33.85% lower than its most recent low trading price.

If we look at the average trading volume of 2.65M shares, AMGN reached to a volume of 2766515 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 $254.85 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 2.70. 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.

Barclays have made an estimate for Amgen Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $257 to $279. The new note on the price target was released on October 11, 2022, representing the official price target for Amgen Inc. stock. Previously, the target price had yet another raise to $256, while SVB Leerink analysts kept a Mkt Perform rating on AMGN stock. On February 09, 2022, analysts increased their price target for AMGN shares from 210 to 250.

The Average True Range (ATR) for Amgen Inc. is set at 5.56, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 5.26. The Price to Book ratio for the last quarter was 58.82, with the Price to Cash per share for the same quarter was set at 13.76. Price to Free Cash Flow for AMGN in the course of the last twelve months was 32.68 with Quick ratio for the last quarter at 1.20.

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 -0.51. With this latest performance, AMGN shares gained by 13.71% in over the last four-week period, additionally plugging by 13.45% over the last 6 months – not to mention a rise of 21.89% 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 63.56, with the RSI for the last a single of trading hit 61.69, and the three-weeks RSI is set at 62.63 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 242.86, while it was recorded at 270.22 for the last single week of trading, and 241.19 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 +35.22 and a Gross Margin at +75.16. Amgen Inc.’s Net Margin is presently recorded at +22.68.

Return on Equity for this stock inclined to 73.16, with Return on Assets sitting at 9.50.

Amgen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.50.

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 7.67%.

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

There are presently around $111,205 million, or 79.80% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 46,825,552, which is approximately -6.402% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 46,148,617 shares of the stock with an approximate value of $12.27 billion in AMGN stocks shares; and STATE STREET CORP, currently with $7.79 billion in AMGN stock with ownership of nearly -4.011% of the company’s market capitalization.

Positions in Amgen Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 1,053 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 20,595,224 shares. Additionally, 999 investors decreased positions by around 23,953,639 shares, while 378 investors held positions by with 373,705,385 shares. The mentioned changes placed institutional holdings at 418,254,248 shares, according to the latest SEC report filing. AMGN stock had 127 new institutional investments in for a total of 2,010,237 shares, while 92 institutional investors sold positions of 999,794 shares during the same period.


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