Amgen (NASDAQ:AMGN) Hits New 12-Month Low – Time to Sell?

Amgen Inc. (NASDAQ:AMGN)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $259.00 and last traded at $265.01, with a volume of 3493849 shares changing hands. The stock had previously closed at $294.00.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Finally, Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

Amgen Stock Down 9.9 %

The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s fifty day moving average price is $315.69 and its 200-day moving average price is $318.05. The company has a market cap of $142.45 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.40%. Amgen’s payout ratio is 115.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Amgen in the 3rd quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the second quarter valued at about $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the third quarter worth about $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the second quarter worth about $30,000. Finally, nVerses Capital LLC acquired a new stake in Amgen in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

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.