Amgen, Inc. (NASDAQ:AMGN) – William Blair upped their Q4 2018 earnings per share (EPS) estimates for Amgen in a note issued to investors on Monday. William Blair analyst M. Phipps now expects that the medical research company will post earnings of $3.13 per share for the quarter, up from their prior forecast of $3.07.
AMGN has been the topic of several other reports. Argus upgraded Amgen from a “hold” rating to a “buy” rating and upped their target price for the company from $192.33 to $220.00 in a report on Tuesday, January 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $189.00 target price on shares of Amgen in a report on Wednesday, January 24th. JPMorgan Chase & Co. upped their target price on Amgen from $184.00 to $189.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Vetr cut Amgen from a “hold” rating to a “sell” rating and set a $181.60 target price on the stock. in a report on Tuesday, March 6th. Finally, BMO Capital Markets upped their target price on Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Amgen has a consensus rating of “Hold” and an average target price of $191.72.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $2.89 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 48.00%.
Amgen declared that its board has authorized a stock repurchase program on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Kings Point Capital Management grew its stake in shares of Amgen by 13.3% during the 2nd quarter. Kings Point Capital Management now owns 13,758 shares of the medical research company’s stock worth $2,370,000 after acquiring an additional 1,611 shares during the period. Hudock Capital Group LLC grew its stake in shares of Amgen by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock worth $330,000 after acquiring an additional 10 shares during the period. CFO4Life Group LLC grew its stake in shares of Amgen by 2.9% during the 2nd quarter. CFO4Life Group LLC now owns 6,966 shares of the medical research company’s stock worth $1,200,000 after acquiring an additional 195 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Amgen during the 2nd quarter worth $12,549,000. Finally, Girard Partners LTD. grew its stake in shares of Amgen by 16.9% during the 2nd quarter. Girard Partners LTD. now owns 40,144 shares of the medical research company’s stock worth $6,914,000 after acquiring an additional 5,792 shares during the period. Institutional investors own 79.61% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.americanbankingnews.com/2018/03/14/amgen-inc-amgn-expected-to-earn-q4-2018-earnings-of-3-13-per-share.html.
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).
Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.