Analysts Offer Predictions for Amgen Inc.’s Q3 2016 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Leerink Swann reduced their Q3 2016 earnings per share (EPS) estimates for Amgen in a research note issued to investors on Friday. Leerink Swann analyst G. Porges now anticipates that the brokerage will earn $3.01 per share for the quarter, down from their previous forecast of $3.03. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2016 earnings at $11.77 EPS.
Other research analysts have also issued research reports about the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $202.00 price objective on shares of Amgen in a research note on Wednesday, June 15th. Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $159.50 price objective on the stock in a research note on Monday, June 13th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research note on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and issued a $187.00 price objective on shares of Amgen in a research note on Wednesday, July 13th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $186.00 price objective on shares of Amgen in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Amgen has an average rating of “Buy” and an average price target of $184.94.
Amgen (NASDAQ:AMGN) opened at 167.50 on Monday. The firm has a market cap of $125.35 billion, a price-to-earnings ratio of 17.14 and a beta of 0.94. The firm has a 50-day moving average of $170.75 and a 200-day moving average of $161.82. Amgen has a one year low of $139.02 and a one year high of $176.85.
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Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the previous year, the business posted $2.57 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new stake in shares of Amgen during the first quarter worth about $25,392,000. Community Bank & Trust Waco Texas boosted its stake in shares of Amgen by 131.9% in the first quarter. Community Bank & Trust Waco Texas now owns 3,399 shares of the medical research company’s stock worth $510,000 after buying an additional 1,933 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Amgen during the first quarter worth about $2,488,000. Aperio Group LLC boosted its stake in shares of Amgen by 2.3% in the first quarter. Aperio Group LLC now owns 318,298 shares of the medical research company’s stock worth $47,722,000 after buying an additional 7,110 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in shares of Amgen by 3.0% in the first quarter. Commonwealth Equity Services Inc now owns 181,502 shares of the medical research company’s stock worth $27,213,000 after buying an additional 5,302 shares during the period. 79.15% of the stock is owned by institutional investors.
In other news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.
Amgen Company Profile
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).
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