Amgen Inc. (NASDAQ:AMGN) – Equities researchers at Leerink Swann boosted their FY2021 earnings per share (EPS) estimates for shares of Amgen in a note issued to investors on Thursday. Leerink Swann analyst G. Porges now expects that the medical research company will earn $12.60 per share for the year, up from their prior estimate of $12.39.

AMGN has been the subject of several other research reports. Royal Bank Of Canada assumed coverage on shares of Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Bank of America Corporation boosted their price target on shares of Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Cann reissued a “buy” rating and issued a $203.00 price target on shares of Amgen in a report on Friday, October 6th. Morgan Stanley reissued an “overweight” rating and issued a $196.00 price target (up previously from $189.00) on shares of Amgen in a report on Friday, October 6th. Finally, Mizuho reissued a “buy” rating and issued a $198.00 price target on shares of Amgen in a report on Friday, October 6th. Eleven analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Amgen has an average rating of “Buy” and an average target price of $190.03.

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Amgen (AMGN) traded down 0.50% during midday trading on Monday, hitting $174.40. The stock had a trading volume of 905,408 shares. Amgen has a one year low of $133.64 and a one year high of $191.10. The company has a market cap of $127.26 billion, a P/E ratio of 15.88 and a beta of 1.36. The stock’s 50-day moving average is $184.87 and its 200-day moving average is $172.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $3.02 EPS.

Amgen declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $1.15 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a yield of 2.62%. Amgen’s dividend payout ratio is currently 41.63%.

In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total transaction of $283,573.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in AMGN. Janus Henderson Group PLC raised its stake in shares of Amgen by 3,664.7% during the second quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after acquiring an additional 3,601,087 shares during the last quarter. FMR LLC raised its stake in shares of Amgen by 4.8% during the second quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after acquiring an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Amgen by 40.9% during the second quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after acquiring an additional 986,700 shares during the last quarter. BlackRock Inc. raised its stake in shares of Amgen by 1.9% during the second quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after acquiring an additional 909,689 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Amgen by 12.9% during the second quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after acquiring an additional 806,119 shares during the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.

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).

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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