Amgen, Inc. (NASDAQ:AMGN) – Leerink Swann increased their Q4 2018 earnings per share (EPS) estimates for Amgen in a research note issued to investors on Friday. Leerink Swann analyst G. Porges now expects that the medical research company will earn $3.35 per share for the quarter, up from their prior estimate of $3.34. Leerink Swann has a “Market Perform” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2019 earnings at $14.25 EPS, FY2020 earnings at $14.58 EPS and FY2021 earnings at $15.21 EPS.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. Amgen’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.89 earnings per share.
AMGN has been the topic of several other reports. BidaskClub raised Amgen from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 2nd. Morgan Stanley reduced their price target on Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Vetr raised Amgen from a “sell” rating to a “hold” rating and set a $181.60 price target on the stock in a research note on Tuesday, February 27th. Oppenheimer reaffirmed a “buy” rating and issued a $205.00 price target on shares of Amgen in a research note on Tuesday, January 30th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Amgen in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $191.72.
Shares of Amgen stock opened at $188.24 on Monday. The firm has a market capitalization of $135,638.59, a price-to-earnings ratio of 73.25, a P/E/G ratio of 2.31 and a beta of 1.37. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35.
Large investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of Amgen by 11.0% during the third quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Amgen by 16.5% during the third quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after purchasing an additional 104,871 shares in the last quarter. Putnam FL Investment Management Co. bought a new position in shares of Amgen during the third quarter valued at $447,000. Moody Lynn & Lieberson LLC bought a new position in shares of Amgen during the third quarter valued at $2,353,000. Finally, Patten Group Inc. lifted its holdings in shares of Amgen by 1,151.5% during the third quarter. Patten Group Inc. now owns 27,859 shares of the medical research company’s stock valued at $389,000 after purchasing an additional 25,633 shares in the last quarter. 79.61% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Amgen declared that its board has authorized a share repurchase plan on Thursday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.80%. Amgen’s dividend payout ratio is currently 205.45%.
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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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