Q2 2024 EPS Estimates for Amgen Inc. Lowered by Zacks Research (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Research analysts at Zacks Research dropped their Q2 2024 earnings estimates for shares of Amgen in a report issued on Thursday, May 23rd. Zacks Research analyst S. Ganoria now anticipates that the medical research company will post earnings per share of $4.85 for the quarter, down from their prior forecast of $4.92. The consensus estimate for Amgen’s current full-year earnings is $19.47 per share. Zacks Research also issued estimates for Amgen’s Q2 2025 earnings at $5.07 EPS, Q3 2025 earnings at $5.35 EPS, Q4 2025 earnings at $5.48 EPS, FY2025 earnings at $20.59 EPS and FY2026 earnings at $20.87 EPS.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the prior year, the company posted $3.98 earnings per share. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year.

A number of other research firms have also issued reports on AMGN. Mizuho increased their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets lifted their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $305.65.

Amgen Stock Performance

Shares of Amgen stock opened at $305.84 on Monday. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market capitalization of $164.06 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.60. The business has a 50-day moving average of $285.02 and a 200 day moving average of $285.70. Amgen has a 12 month low of $211.71 and a 12 month high of $329.72.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.94%. Amgen’s payout ratio is 128.57%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amgen

A number of large investors have recently modified their holdings of the stock. Horizon Financial Services LLC acquired a new position in Amgen during the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the fourth quarter worth about $29,000. United Community Bank bought a new stake in Amgen in the 4th quarter valued at about $29,000. Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $30,000. Finally, Planned Solutions Inc. acquired a new stake in Amgen in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.