Amgen Shares Plummet 10% After Failed Cardiovascular Trial

Amgen Inc's shares took a hit on September 8, plummeting over 10% to $393.17 after Novartis announced that its late-stage cardiovascular trial for Amgen's olpasiran program had failed to meet primary endpoints.

The company's dividend profile remains attractive, with a 2.49% yield and a moderate payout ratio of 44%. The dividend growth rate has been consistent at 7.1% over the past three years, suggesting that management is committed to returning capital to shareholders.

GuruFocus' GF Value model estimates Amgen's intrinsic value at $365.80 per share, indicating that the stock is approximately 7.5% overvalued relative to its current price. The company's strong profitability and growth metrics are reflected in its high GF Score of 85/100.