Amgen Inc. Expected to Earn Q3 2017 Earnings of $3.16 Per Share (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Jefferies Group issued their Q3 2017 earnings per share estimates for Amgen in a research note issued on Monday. Jefferies Group analyst M. Yee expects that the medical research company will earn $3.16 per share for the quarter. Jefferies Group has a “Buy” rating and a $200.00 price target on the stock. Jefferies Group also issued estimates for Amgen’s Q4 2017 earnings at $2.99 EPS, FY2017 earnings at $12.57 EPS and FY2018 earnings at $13.01 EPS.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $2.84 EPS.
Other equities analysts have also recently issued research reports about the company. UBS AG reaffirmed a “neutral” rating and issued a $175.00 price target (up previously from $174.00) on shares of Amgen in a report on Tuesday, June 13th. Morgan Stanley upped their price target on Amgen from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, June 13th. BMO Capital Markets cut Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price target for the company. in a report on Friday, July 21st. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $203.00 price target (up previously from $189.00) on shares of Amgen in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada assumed coverage on Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $189.99.
Shares of Amgen (NASDAQ AMGN) opened at 185.79 on Wednesday. The company’s 50-day moving average price is $182.35 and its 200 day moving average price is $170.56. The company has a market cap of $135.57 billion, a P/E ratio of 16.92 and a beta of 1.36. Amgen has a 52 week low of $133.64 and a 52 week high of $191.10.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Camelot Portfolios LLC purchased a new position in Amgen in the first quarter worth approximately $1,429,000. PGGM Investments grew its position in Amgen by 2.3% in the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock worth $115,555,000 after acquiring an additional 15,059 shares during the period. Shelton Capital Management boosted its position in shares of Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after buying an additional 49,354 shares during the period. Greylin Investment Mangement Inc. boosted its position in shares of Amgen by 466.9% during the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after buying an additional 11,555 shares during the period. Finally, Kelman Lazarov Inc. boosted its position in shares of Amgen by 8.2% during the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after buying an additional 120 shares during the period. Institutional investors own 78.10% 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).
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.