Wall Street Predicts This Dividend Stock to Soar 31%: Should You Buy The Dip Now?

Sitting at a market capitalization of $159 billion, Amgen (AMGN) is a biotech powerhouse. Founded in 1980, it is one of the biggest names in the healthcare and biotech industry, with a strong history of innovation, consistent revenue generation, and a generous dividend. The company offers a forward dividend yield of 3.25%, significantly above the healthcare sector's 1.6% average, making it an attractive option for income-focused investors seeking stability.

Amgen specializes in oncology, cardiovascular disease, inflammation, and rare conditions. Some of its blockbuster drugs include Enbrel (for rheumatoid arthritis), Prolia (for osteoporosis in women), Repatha (for cholesterol management), Otezla (for psoriasis treatment), and Kyprolis (for multiple myeloma). The company delivered strong quarterly results, closing out 2024 on a high note. Despite a 12.5% gain year-to-date, the stock remains more than 14% below its 52-week high.