Leerink Swann Analysts Reduce Earnings Estimates for Amgen, Inc. (AMGN)

Amgen, Inc. (NASDAQ:AMGN) – Leerink Swann dropped their FY2018 earnings estimates for Amgen in a research report issued to clients and investors on Wednesday, October 31st. Leerink Swann analyst G. Porges now expects that the medical research company will post earnings of $14.33 per share for the year, down from their prior estimate of $14.41. Leerink Swann currently has a “Hold” rating and a $209.00 target price on the stock. Leerink Swann also issued estimates for Amgen’s Q4 2018 earnings at $3.34 EPS, FY2019 earnings at $14.96 EPS and FY2021 earnings at $16.64 EPS.

A number of other analysts have also recently commented on AMGN. BidaskClub raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 11th. Morgan Stanley upped their price objective on shares of Amgen from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, July 13th. Jefferies Financial Group reiterated a “buy” rating and set a $200.00 price objective on shares of Amgen in a report on Monday, July 16th. Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Piper Jaffray Companies upped their price objective on shares of Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $204.55.

Shares of AMGN opened at $192.90 on Thursday. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03. The firm has a market cap of $122.39 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.83 and a beta of 1.40. Amgen has a 12 month low of $163.31 and a 12 month high of $210.19.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 51.05%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of AMGN. Principal Financial Group Inc. raised its holdings in shares of Amgen by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,187,759 shares of the medical research company’s stock worth $202,489,000 after acquiring an additional 15,948 shares during the last quarter. Cardinal Capital Management Inc. raised its holdings in shares of Amgen by 22.2% in the 2nd quarter. Cardinal Capital Management Inc. now owns 82,900 shares of the medical research company’s stock worth $15,303,000 after acquiring an additional 15,035 shares during the last quarter. First Financial Bank Trust Division raised its holdings in shares of Amgen by 47.4% in the 2nd quarter. First Financial Bank Trust Division now owns 2,102 shares of the medical research company’s stock worth $388,000 after acquiring an additional 676 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Amgen by 2.3% in the 2nd quarter. Gulf International Bank UK Ltd now owns 217,679 shares of the medical research company’s stock worth $40,181,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Abner Herrman & Brock LLC raised its holdings in shares of Amgen by 1.5% in the 2nd quarter. Abner Herrman & Brock LLC now owns 52,841 shares of the medical research company’s stock worth $9,754,000 after acquiring an additional 802 shares during the last quarter. Institutional investors own 82.37% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.74%. Amgen’s dividend payout ratio is presently 41.97%.

About Amgen

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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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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