Amgen (NASDAQ:AMGN) – Equities researchers at Leerink Swann raised their Q1 2018 EPS estimates for shares of Amgen in a research report issued on Tuesday, April 17th. Leerink Swann analyst G. Porges now anticipates that the medical research company will post earnings per share of $3.50 for the quarter, up from their prior forecast of $3.42. Leerink Swann currently has a “Market Perform” rating on the stock. Leerink Swann also issued estimates for Amgen’s Q3 2018 earnings at $3.81 EPS, Q4 2018 earnings at $3.39 EPS, FY2018 earnings at $14.48 EPS, FY2019 earnings at $14.74 EPS, FY2020 earnings at $15.11 EPS and FY2021 earnings at $15.72 EPS.
Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) 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 the consensus estimate of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. Amgen’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 EPS.
Other equities research analysts have also issued research reports about the stock. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and raised their target price for the stock from $192.33 to $220.00 in a report on Tuesday, January 23rd. Cowen reiterated a “buy” rating and set a $204.00 price objective on shares of Amgen in a report on Friday, February 2nd. Mizuho reiterated a “buy” rating and set a $192.00 price objective on shares of Amgen in a report on Thursday, February 1st. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Amgen in a report on Tuesday, January 30th. Finally, Piper Jaffray reiterated a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $190.57.
Amgen stock opened at $174.88 on Wednesday. The stock has a market capitalization of $114,528.20, a PE ratio of 13.90, a PEG ratio of 2.10 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. Amgen has a 12-month low of $152.16 and a 12-month high of $201.23.
Amgen declared that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be issued a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a dividend yield of 3.02%. Amgen’s dividend payout ratio is currently 41.97%.
In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $189.75, for a total value of $289,368.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 4,575 shares of company stock valued at $818,330. Company insiders own 0.19% of the company’s stock.
Large investors have recently bought and sold shares of the company. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in shares of Amgen in the 4th quarter worth approximately $58,641,000. Chemical Bank grew its position in shares of Amgen by 3.4% in the 4th quarter. Chemical Bank now owns 12,391 shares of the medical research company’s stock worth $2,155,000 after buying an additional 410 shares during the last quarter. Green Square Capital LLC grew its position in shares of Amgen by 18.0% in the 4th quarter. Green Square Capital LLC now owns 47,457 shares of the medical research company’s stock worth $8,253,000 after buying an additional 7,231 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Amgen by 1.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,148 shares of the medical research company’s stock worth $13,590,000 after buying an additional 1,354 shares during the last quarter. Finally, Fairfield Bush & CO. grew its position in shares of Amgen by 3.7% in the 4th quarter. Fairfield Bush & CO. now owns 34,361 shares of the medical research company’s stock worth $5,975,000 after buying an additional 1,215 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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