Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Swann upped their FY2017 earnings estimates for shares of Amgen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now anticipates that the brokerage will post earnings of $13.04 per share for the year, up from their prior forecast of $13.02. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2018 earnings at $14.06 EPS, FY2019 earnings at $13.83 EPS and FY2020 earnings at $14.18 EPS.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. The business earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. Amgen’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS.

AMGN has been the topic of a number of other reports. Robert W. Baird reiterated an “outperform” rating and issued a $157.00 price objective on shares of Amgen in a research report on Friday, August 26th. Jefferies Group reiterated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research report on Tuesday, August 23rd. Gabelli started coverage on Amgen in a research report on Friday, August 26th. They issued a “hold” rating on the stock. Vetr lowered Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 price objective on the stock. in a research report on Monday, May 30th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $204.00 price objective on shares of Amgen in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $184.87.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/fy2017-earnings-estimate-for-amgen-inc-issued-by-leerink-swann-amgn.html

Amgen (NASDAQ:AMGN) traded up 0.0434% during midday trading on Wednesday, reaching $173.4553. The company had a trading volume of 1,510,514 shares. The stock has a market capitalization of $129.81 billion, a PE ratio of 17.7502 and a beta of 0.87. Amgen has a 12-month low of $130.09 and a 12-month high of $176.64. The company has a 50-day moving average of $171.98 and a 200-day moving average of $159.67.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, August 15th. Amgen’s payout ratio is 40.90%.

In other Amgen news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of AMGN. Valley National Advisers Inc. boosted its stake in shares of Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock worth $109,000 after buying an additional 33 shares during the last quarter. Glassman Wealth Services boosted its stake in shares of Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock worth $110,000 after buying an additional 600 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock worth $111,000 after buying an additional 100 shares during the last quarter. Integrated Wealth Management boosted its stake in shares of Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position in Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock worth $155,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).

5 Day Chart for NASDAQ:AMGN

Receive News & Ratings for Amgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.