Amgen (NASDAQ:AMGN) Reaches New 12-Month Low - Here's Why

Amgen Inc. (NASDAQ:AMGN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $257.00 and last traded at $257.11, with a volume of 170649 shares trading hands. The stock had previously closed at $258.78.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Dbs Bank upgraded Amgen to a "strong-buy" rating in a research note on Monday, September 16th. Bank of America reiterated an "underperform" rating and set a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Leerink Partners reduced their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, StockNews.com lowered Amgen from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $319.68.

Amgen Trading Up 0.9 %

The stock has a market cap of $140.40 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.91 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a 50 day moving average of $297.50 and a two-hundred day moving average of $313.58.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The business's revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.64%. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen's dividend payout ratio (DPR) is presently 121.90%.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently modified their holdings of AMGN. Keynote Financial Services LLC boosted its holdings in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company's stock worth $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC boosted its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company's stock worth $3,421,000 after acquiring an additional 31 shares during the last quarter. Cadinha & Co. LLC increased its position in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company's stock worth $1,678,000 after purchasing an additional 32 shares in the last quarter. Lansing Street Advisors raised its stake in Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company's stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. Finally, Unionview LLC lifted its holdings in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company's stock valued at $282,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

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.