Jefferies Group Analysts Boost Earnings Estimates for Amgen Inc. (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Research analysts at Jefferies Group boosted their FY2017 EPS estimates for Amgen in a research report issued on Tuesday. Jefferies Group analyst M. Yee now expects that the medical research company will earn $12.57 per share for the year, up from their previous estimate of $12.49. Jefferies Group has a “Buy” rating and a $195.00 price objective on the stock.
Other research analysts have also recently issued reports about the company. Vetr cut Amgen from a “strong-buy” rating to a “buy” rating and set a $178.82 price target for the company. in a research report on Monday, April 3rd. Mizuho reiterated a “buy” rating and set a $195.00 price target on shares of Amgen in a research report on Monday, April 3rd. Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the company a “buy” rating in a research report on Tuesday, May 9th. Cowen and Company reiterated a “buy” rating and set a $209.00 price target on shares of Amgen in a research report on Thursday, April 27th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $198.00 price target (down from $200.00) on shares of Amgen in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $186.81.
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Amgen (NASDAQ AMGN) traded down 1.98% during mid-day trading on Thursday, reaching $172.40. 1,139,831 shares of the company traded hands. The firm has a market capitalization of $126.78 billion, a P/E ratio of 16.38 and a beta of 1.36. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The company’s 50 day moving average price is $171.84 and its 200 day moving average price is $166.15.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 30.17%. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the previous year, the firm earned $2.84 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the sale, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. Camelot Portfolios LLC purchased a new stake in Amgen during the first quarter valued at about $1,429,000. Private Asset Management Inc. increased its stake in Amgen by 117.8% in the first quarter. Private Asset Management Inc. now owns 3,591 shares of the medical research company’s stock valued at $589,000 after buying an additional 1,942 shares in the last quarter. Cadence Bank NA increased its stake in Amgen by 6.2% in the first quarter. Cadence Bank NA now owns 3,376 shares of the medical research company’s stock valued at $554,000 after buying an additional 197 shares in the last quarter. Stillwater Capital Advisors LLC purchased a new stake in Amgen during the first quarter valued at about $202,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Amgen during the fourth quarter valued at about $275,209,000. Hedge funds and other institutional investors own 78.87% of the company’s stock.
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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