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Today Amgen (AMGN) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Amgen ( AMGN) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Amgen as such a stock due to the following factors:

  • AMGN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $416.1 million.
  • AMGN has traded 89,729 shares today.
  • AMGN is trading at a new lifetime high.

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More details on AMGN:

Amgen, the world's largest independent biotechnology company, was founded in Thousand Oaks, California in 1980 as AMGen (Applied Molecular Genetics). The stock currently has a dividend yield of 2%. AMGN has a PE ratio of 16.1. Currently there are 8 analysts that rate Amgen a buy, no analysts rate it a sell, and 12 rate it a hold.

The average volume for Amgen has been 3.2 million shares per day over the past 30 days. Amgen has a market cap of $92.2 billion and is part of the health care sector and drugs industry. The stock has a beta of 0.31 and a short float of 1.3% with 2.93 days to cover. Shares are up 7.1% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • Powered by its strong earnings growth of 31.68% and other important driving factors, this stock has surged by 46.16% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, AMGN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • AMGEN INC has improved earnings per share by 31.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, AMGEN INC increased its bottom line by earning $6.65 versus $5.51 in the prior year. This year, the market expects an improvement in earnings ($8.14 versus $6.65).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Biotechnology industry average. The net income increased by 29.6% when compared to the same quarter one year prior, rising from $788.00 million to $1,021.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 15.2%. Since the same quarter one year prior, revenues rose by 13.3%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Biotechnology industry and the overall market, AMGEN INC's return on equity exceeds that of both the industry average and the S&P 500.

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