Amgen, Inc. (NASDAQ:AMGN) – Equities research analysts at William Blair boosted their FY2017 earnings per share (EPS) estimates for Amgen in a report released on Monday. William Blair analyst M. Phipps now expects that the medical research company will post earnings per share of $12.65 for the year, up from their previous forecast of $12.41. William Blair also issued estimates for Amgen’s Q4 2017 earnings at $2.96 EPS, Q1 2018 earnings at $3.27 EPS, Q2 2018 earnings at $3.08 EPS, Q3 2018 earnings at $3.18 EPS, Q4 2018 earnings at $3.13 EPS and FY2018 earnings at $12.66 EPS.

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

Several other brokerages also recently commented on AMGN. Royal Bank Of Canada assumed coverage on Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective for the company. Bank of America increased their price objective on Amgen to $210.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Oppenheimer reissued a “buy” rating and issued a $203.00 price objective on shares of Amgen in a research note on Friday, October 6th. Mizuho reissued a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research note on Friday, October 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $196.00 price objective (up from $189.00) on shares of Amgen in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $190.22.

Shares of Amgen (AMGN) opened at $178.67 on Wednesday. The company has a market capitalization of $129,712.96, a P/E ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36. Amgen has a 52 week low of $138.83 and a 52 week high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Ellis Asset Management LLC bought a new position in shares of Amgen in the third quarter worth $108,000. TrimTabs Asset Management LLC boosted its holdings in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after acquiring an additional 288 shares during the period. Phocas Financial Corp. bought a new position in shares of Amgen in the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares during the period. Finally, American Beacon Advisors Inc. bought a new position in shares of Amgen in the first quarter worth $106,000. 78.38% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the completion of the sale, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders have sold 7,050 shares of company stock valued at $1,239,673 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

Amgen declared that its board has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is 41.63%.

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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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