Q3 2017 EPS Estimates for Amgen Inc. (NASDAQ:AMGN) Boosted by Jefferies Group
Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Jefferies Group increased their Q3 2017 earnings estimates for shares of Amgen in a research note issued to investors on Tuesday. Jefferies Group analyst M. Yee now anticipates that the medical research company will post earnings per share of $3.16 for the quarter, up from their previous forecast of $3.13. Jefferies Group currently has a “Buy” rating and a $195.00 target price on the stock. Jefferies Group also issued estimates for Amgen’s Q4 2017 earnings at $2.99 EPS and FY2018 earnings at $13.01 EPS.
AMGN has been the topic of a number of other reports. Deutsche Bank AG started coverage on shares of Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 target price on the stock. Credit Suisse Group restated a “hold” rating and set a $178.00 target price on shares of Amgen in a research note on Tuesday, April 4th. ValuEngine lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Monday, June 5th. Finally, Mizuho restated a “buy” rating and set a $195.00 target price on shares of Amgen in a research note on Monday, April 3rd. One investment 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. The company presently has an average rating of “Buy” and a consensus price target of $186.81.
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Shares of Amgen (NASDAQ:AMGN) opened at 172.15 on Friday. The stock has a 50 day moving average of $172.14 and a 200-day moving average of $166.19. The company has a market capitalization of $126.60 billion, a PE ratio of 16.35 and a beta of 1.36. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period last year, the business earned $2.84 EPS. The company’s revenue was up 2.1% compared to the same quarter last year.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the completion of the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Ancora Advisors LLC increased its stake in shares of Amgen by 48.3% in the fourth quarter. Ancora Advisors LLC now owns 7,239 shares of the medical research company’s stock valued at $1,058,000 after buying an additional 2,359 shares in the last quarter. Focused Wealth Management Inc increased its stake in shares of Amgen by 248.0% in the fourth quarter. Focused Wealth Management Inc now owns 870 shares of the medical research company’s stock valued at $127,000 after buying an additional 620 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of Amgen during the fourth quarter valued at $798,000. Guggenheim Capital LLC increased its stake in shares of Amgen by 7.3% in the fourth quarter. Guggenheim Capital LLC now owns 725,359 shares of the medical research company’s stock valued at $106,055,000 after buying an additional 49,543 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Amgen by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 1,050,591 shares of the medical research company’s stock valued at $153,607,000 after buying an additional 69,264 shares in the last quarter. 78.87% of the stock is owned by hedge funds and other institutional investors.
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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