Amgen, Inc. (NASDAQ:AMGN) – Research analysts at Leerink Swann cut their Q4 2017 earnings estimates for shares of Amgen in a note issued to investors on Thursday. Leerink Swann analyst G. Porges now expects that the medical research company will post earnings per share of $2.90 for the quarter, down from their prior estimate of $2.93. Leerink Swann also issued estimates for Amgen’s Q1 2018 earnings at $3.04 EPS, Q2 2018 earnings at $3.24 EPS, Q3 2018 earnings at $3.16 EPS and Q4 2018 earnings at $3.03 EPS.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the company earned $3.02 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis.
Other research analysts have also issued research reports about the company. Cann restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Friday, October 6th. Bank of America raised their target price on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Mizuho restated a “buy” rating and issued a $198.00 target price (up previously from $183.00) on shares of Amgen in a report on Thursday, September 28th. Jefferies Group restated a “buy” rating and issued a $200.00 target price on shares of Amgen in a report on Monday, September 25th. Finally, Oppenheimer restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Friday, October 6th. Fifteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $190.15.
Amgen (AMGN) opened at $189.28 on Friday. Amgen has a fifty-two week low of $150.38 and a fifty-two week high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $136,173.56, a P/E ratio of 17.13, a PEG ratio of 2.74 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 41.63%.
Amgen announced that its board has initiated a stock buyback plan on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total value of $283,070.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders sold 8,575 shares of company stock valued at $1,508,836 over the last three months. Company insiders own 0.19% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Advisory Service Inc. grew its position in shares of Amgen by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its position in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Amgen by 0.6% during the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after buying an additional 7 shares during the period. Ballentine Partners LLC boosted its stake in Amgen by 0.3% during the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after buying an additional 9 shares during the period. Finally, Hudock Capital Group LLC boosted its stake in Amgen by 0.5% during the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after buying an additional 10 shares during the period. Institutional investors own 78.48% of the company’s stock.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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