This Biotech Stock Has Grown its Dividend Since 2011

Amgen set to present at the 42nd Annual Cowen Healthcare Conference

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Amgen Inc. (NASDAQ:AMGN) is an American multinational biopharmaceutical company. AMGN's goal is to provide a healthcare business based on recombinant DNA technology by discovering, developing, manufacturing, and delivering human therapeutics. At last check, AMGN was trading up 2.5% at $234.16.

This week Amgen announced that its senior leadership team will virtually present at the 42nd Annual Cowen Healthcare Conference on Tuesday, March 8. Murdo Gordon, executive V.P. of Global Commercial Operations and Peter H. Griffith, executive V.P. and chief financial officer at Amgen will both present at the conference.

Amgen stock is sitting just above its year-over-year and year-to-date breakeven points. The shares have increased 15% since dropping to an almost two-year low of $198.64 in November, but is still down approximately 12% from its April 2021, record high of  $261.00.

Moreover, the biotech stock's valuation metrics are mixed, with Amgen stock trading at an attractive forward price-earnings ratio of 12.76 but AMGN also toting an inflated price-sales ratio of 5.01.  Amgen stock also provides a high dividend yield of 3.39%, with a forward dividend at $7.76.

In addition, AMGN has consistently increased its dividend payouts on an annual basis since 2011, making Amgen stock best suited for passive investors looking for relatively high dividend payouts and consistent returns.

Lastly, AMGN's Schaeffer's Volatility Index (SVI) of 24% sits in the low 34th percentile of its annual range. This implies that options traders are pricing in lower volatility expectations for the equity, making now a good time to speculate on the stock's next move with options. 

 
 

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