Amgen Inc. [NASDAQ: AMGN] stock went on an upward path that rose over 0.64% on Thursday, amounting to a one-week price decrease of less than -1.28%. The company report on April 27, 2023 at 4:01 PM that AMGEN REPORTS FIRST QUARTER FINANCIAL RESULTS.
Amgen (NASDAQ:AMGN) today announced financial results for the first quarter of 2023.
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“We delivered 14% volume growth driven by the breadth of our portfolio and strong demand for our products globally,” said Robert A. Bradway, chairman and chief executive officer. “We look forward to closing the acquisition of Horizon Therapeutics and joining forces to reach more patients around the world with their innovative medicines.”.
Over the last 12 months, AMGN stock dropped by -3.81%. The one-year Amgen Inc. stock forecast points to a potential upside of 6.79. The average equity rating for AMGN stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $128.18 billion, with 535.00 million shares outstanding and 532.95 million shares in the current float. Compared to the average trading volume of 2.45M shares, AMGN stock reached a trading volume of 2528269 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $257.86 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.
Oppenheimer have made an estimate for Amgen Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 24, 2023. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $275 to $265. The new note on the price target was released on March 13, 2023, representing the official price target for Amgen Inc. stock. Previously, the target price had yet another drop from $280 to $260, while Truist kept a Buy rating on AMGN stock.
The Average True Range (ATR) for Amgen Inc. is set at 3.89, with the Price to Sales ratio for AMGN stock in the period of the last 12 months amounting to 4.87. The Price to Book ratio for the last quarter was 35.14, with the Price to Cash per share for the same quarter was set at 17.45. Price to Free Cash Flow for AMGN in the course of the last twelve months was 27.93 with Quick ratio for the last quarter at 1.10.
AMGN Stock Performance Analysis:
Amgen Inc. [AMGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.28. With this latest performance, AMGN shares gained by 0.78% in over the last four-week period, additionally sinking by -7.56% over the last 6 months – not to mention a drop of -3.81% 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 43.96, with the RSI for the last a single of trading hit 38.00, and the three-weeks RSI is set at 46.15 for Amgen Inc. [AMGN]. The present Moving Average for the last 50 days of trading for this stock 239.15, while it was recorded at 242.46 for the last single week of trading, and 251.70 for the last 200 days.
Insight into Amgen Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Amgen Inc. [AMGN] shares currently have an operating margin of +35.78 and a Gross Margin at +75.45. Amgen Inc.’s Net Margin is presently recorded at +25.11.
Return on Total Capital for AMGN is now 22.23, given the latest momentum, and Return on Invested Capital for the company is 15.98. Return on Equity for this stock inclined to 126.47, with Return on Assets sitting at 10.38. When it comes to the capital structure of this company, Amgen Inc. [AMGN] has a Total Debt to Total Equity ratio set at 1,082.76. Additionally, AMGN Total Debt to Total Capital is recorded at 91.55, with Total Debt to Total Assets ending up at 60.87. Long-Term Debt to Equity for the company is recorded at 1,035.05, with the Long-Term Debt to Total Capital now at 87.51.
Reflecting on the efficiency of the workforce at the company, Amgen Inc. [AMGN] managed to generate an average of $260,000 per employee. Receivables Turnover for the company is 4.27 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 1.10 and a Current Ratio set at 1.40.
AMGN Stock EPS
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 1.63%.
Amgen Inc. [AMGN] Insider Position Details
There are presently around $97,078 million, or 79.10% of AMGN stock, in the hands of institutional investors. The top three institutional holders of AMGN stocks are: BLACKROCK INC. with ownership of 48,514,640, which is approximately 3.507% of the company’s market cap and around 0.22% of the total institutional ownership; VANGUARD GROUP INC, holding 48,065,139 shares of the stock with an approximate value of $11.48 billion in AMGN stocks shares; and STATE STREET CORP, currently with $7.09 billion in AMGN stock with ownership of nearly 2.084% of the company’s market capitalization.
Positions in Amgen Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 1,144 institutional holders increased their position in Amgen Inc. [NASDAQ:AMGN] by around 23,914,049 shares. Additionally, 1,091 investors decreased positions by around 26,454,886 shares, while 359 investors held positions by with 356,154,656 shares. The mentioned changes placed institutional holdings at 406,523,591 shares, according to the latest SEC report filing. AMGN stock had 219 new institutional investments in for a total of 2,850,048 shares, while 114 institutional investors sold positions of 4,705,349 shares during the same period.