Amgen, Inc. (NASDAQ:AMGN) – Stock analysts at Oppenheimer boosted their FY2019 earnings estimates for Amgen in a research report issued to clients and investors on Sunday, December 1st. Oppenheimer analyst J. Olson now forecasts that the medical research company will post earnings of $14.64 per share for the year, up from their previous estimate of $14.30. Oppenheimer has a “Buy” rating and a $240.00 price objective on the stock. Oppenheimer also issued estimates for Amgen’s FY2021 earnings at $18.83 EPS, FY2022 earnings at $19.65 EPS and FY2023 earnings at $20.50 EPS.
Other analysts have also recently issued reports about the company. Sanford C. Bernstein initiated coverage on Amgen in a research report on Monday, October 14th. They issued an “outperform” rating on the stock. Goldman Sachs Group set a $243.00 price target on Amgen and gave the stock a “buy” rating in a research report on Monday, September 30th. Leerink Swann increased their price target on Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Mizuho restated a “hold” rating and set a $212.00 price target on shares of Amgen in a research report on Sunday, September 29th. Finally, BidaskClub raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Ten equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $221.47.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.13. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. Balentine LLC raised its stake in Amgen by 36.1% during the 3rd quarter. Balentine LLC now owns 181 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 48 shares during the period. Atwater Malick LLC acquired a new stake in Amgen during the 3rd quarter valued at $39,000. Ashburton Jersey Ltd purchased a new stake in shares of Amgen in the second quarter valued at $42,000. Finally, Next Capital Management LLC lifted its holdings in shares of Amgen by 42.5% in the second quarter. Next Capital Management LLC now owns 238 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.
In other news, EVP Jonathan P. Graham sold 9,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $230.54, for a total transaction of $2,074,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total value of $413,400.00. Following the sale, the director now directly owns 16,336 shares of the company’s stock, valued at $3,376,651.20. The disclosure for this sale can be found here. Insiders have sold 22,162 shares of company stock valued at $5,014,590 over the last 90 days. 0.25% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, November 14th. Amgen’s payout ratio is 40.28%.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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