FY2018 EPS Estimates for Amgen, Inc. Increased by Analyst (AMGN)
Amgen, Inc. (NASDAQ:AMGN) – Research analysts at Gabelli upped their FY2018 earnings per share (EPS) estimates for Amgen in a research report issued on Tuesday. Gabelli analyst J. He now forecasts that the medical research company will post earnings per share of $11.95 for the year, up from their previous forecast of $11.90.
A number of other equities research analysts also recently commented on AMGN. Mizuho set a $195.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Saturday, May 6th. Leerink Swann set a $159.00 target price on shares of Amgen and gave the stock a “hold” rating in a research report on Monday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $193.00 target price on shares of Amgen in a research report on Tuesday, March 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $198.00 target price (down previously from $200.00) on shares of Amgen in a research report on Monday. Finally, Credit Suisse Group AG set a $177.00 target price on shares of Amgen and gave the stock a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $186.89.
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Shares of Amgen (NASDAQ:AMGN) traded up 0.36% during trading on Thursday, reaching $155.16. The company’s stock had a trading volume of 848,068 shares. Amgen has a one year low of $133.64 and a one year high of $184.21. The company has a market capitalization of $114.10 billion, a price-to-earnings ratio of 14.74 and a beta of 1.15. The firm’s 50-day moving average price is $161.21 and its 200-day moving average price is $159.24.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.15. Amgen had a return on equity of 29.42% and a net margin of 33.59%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company earned $2.90 earnings per share. Amgen’s revenue was down 1.1% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC boosted its stake in shares of Amgen by 13.2% in the third quarter. Chicago Equity Partners LLC now owns 223,700 shares of the medical research company’s stock valued at $37,315,000 after buying an additional 26,155 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Amgen by 172.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 812,391 shares of the medical research company’s stock valued at $135,514,000 after buying an additional 514,557 shares during the last quarter. Sabal Trust CO boosted its stake in shares of Amgen by 42.4% in the third quarter. Sabal Trust CO now owns 124,969 shares of the medical research company’s stock valued at $20,846,000 after buying an additional 37,215 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Amgen by 0.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 58,199 shares of the medical research company’s stock valued at $9,708,000 after buying an additional 302 shares during the last quarter. Finally, Concorde Asset Management LLC boosted its stake in shares of Amgen by 21.7% in the third quarter. Concorde Asset Management LLC now owns 2,171 shares of the medical research company’s stock valued at $351,000 after buying an additional 387 shares during the last quarter. 79.04% of the stock is owned by institutional investors.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the transaction, the senior vice president now owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Wednesday, May 17th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, May 15th. Amgen’s dividend payout ratio is currently 44.92%.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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