Amgen, Inc. (NASDAQ:AMGN) – Jefferies Financial Group raised their FY2018 earnings estimates for shares of Amgen in a report issued on Wednesday, October 31st. Jefferies Financial Group analyst M. Yee now anticipates that the medical research company will earn $14.17 per share for the year, up from their prior forecast of $14.11. Jefferies Financial Group has a “Buy” rating and a $220.00 price objective on the stock. Jefferies Financial Group also issued estimates for Amgen’s Q1 2019 earnings at $3.81 EPS, Q2 2019 earnings at $3.63 EPS, Q3 2019 earnings at $3.38 EPS, Q4 2019 earnings at $3.48 EPS and FY2019 earnings at $14.31 EPS.
Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated a “neutral” rating and set a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Cann reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Monday, July 30th. Piper Jaffray Companies increased their target price on shares of Amgen from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. BidaskClub upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 11th. Finally, Oppenheimer reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $204.55.
Shares of AMGN opened at $187.06 on Thursday. Amgen has a fifty-two week low of $163.31 and a fifty-two week high of $210.19. The stock has a market cap of $122.39 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.83 and a beta of 1.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.39 and a quick ratio of 3.12.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.24. Amgen had a net margin of 9.44% and a return on equity of 51.05%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same quarter in the prior year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be given a $1.32 dividend. The ex-dividend date is Thursday, November 15th. This represents a $5.28 dividend on an annualized basis and a yield of 2.82%. Amgen’s payout ratio is currently 41.97%.
A number of large investors have recently made changes to their positions in AMGN. Keystone Financial Planning Inc. increased its holdings in Amgen by 1.2% in the third quarter. Keystone Financial Planning Inc. now owns 28,320 shares of the medical research company’s stock valued at $5,870,000 after buying an additional 344 shares in the last quarter. FineMark National Bank & Trust increased its holdings in Amgen by 1.6% in the third quarter. FineMark National Bank & Trust now owns 35,978 shares of the medical research company’s stock valued at $7,458,000 after buying an additional 553 shares in the last quarter. Ballast Inc. purchased a new position in Amgen in the third quarter valued at about $286,000. OLD Point Trust & Financial Services N A increased its holdings in Amgen by 2.1% in the third quarter. OLD Point Trust & Financial Services N A now owns 28,482 shares of the medical research company’s stock valued at $5,904,000 after buying an additional 575 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Amgen by 1.0% in the third quarter. American Century Companies Inc. now owns 847,337 shares of the medical research company’s stock valued at $175,644,000 after buying an additional 8,133 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
Amgen Company Profile
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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