Amgen (NASDAQ:AMGN) Hits New 52-Week High Following Better-Than-Expected Earnings

Amgen Inc. (NASDAQ:AMGN)’s stock price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $414.97 and last traded at $411.57, with a volume of 1073411 shares trading hands. The stock had previously closed at $390.02.

The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the previous year, the firm posted $6.02 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s payout ratio is 70.15%.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Q2 results exceeded expectations: Amgen reported revenue of $10.05 billion, up 9.5% year over year, and adjusted EPS of $6.29 versus the $5.62 consensus estimate. Twenty-two products delivered double-digit sales growth, led by Repatha and Evenity. Amgen second-quarter sales rise 9%, profit tops Street view
• Positive Sentiment: Guidance was raised: Amgen now expects 2026 revenue of $38.2 billion to $39.4 billion, above the $37.8 billion analyst estimate, while EPS guidance is $22.30 to $23.50. The improved outlook reinforces confidence in portfolio growth. Amgen Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Several firms became more bullish: BMO Capital Markets and Oppenheimer raised their targets to $450 and maintained “outperform” ratings. RBC also raised its target to $400 and upgraded its view to “outperform.” William Blair reiterated a Buy rating, citing the earnings beat, higher guidance and late-stage pipeline catalysts. Benzinga analyst ratings

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMGN shares. Mizuho raised their price target on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Wells Fargo & Company increased their price objective on Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial raised their target price on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a report on Wednesday. Royal Bank Of Canada lifted their target price on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Guggenheim upped their price target on shares of Amgen from $340.00 to $343.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $361.30.

Institutional Investors Weigh In On Amgen

Several institutional investors and hedge funds have recently bought and sold shares of AMGN. Norges Bank purchased a new stake in Amgen in the fourth quarter worth $2,164,162,000. Capital World Investors raised its holdings in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp lifted its position in shares of Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Geode Capital Management LLC lifted its position in shares of Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. Finally, Amundi boosted its stake in shares of Amgen by 41.1% during the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after purchasing an additional 988,856 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The business’s 50 day moving average price is $358.49 and its two-hundred day moving average price is $354.79. The stock has a market cap of $222.71 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.83 and a beta of 0.41.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.