Q3 2024 EPS Estimates for Amgen Inc. (NASDAQ:AMGN) Lowered by Analyst

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Partnrs dropped their Q3 2024 EPS estimates for shares of Amgen in a report released on Wednesday, August 7th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $5.19 for the quarter, down from their previous estimate of $5.33. The consensus estimate for Amgen’s current full-year earnings is $19.50 per share. Leerink Partnrs also issued estimates for Amgen’s Q4 2024 earnings at $5.15 EPS and FY2024 earnings at $19.27 EPS.

Other research analysts have also issued research reports about the stock. Mizuho lifted their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

Amgen Trading Down 0.7 %

Amgen stock traded down $2.20 during midday trading on Thursday, hitting $322.49. 1,786,545 shares of the stock were exchanged, compared to its average volume of 2,646,529. The company has a fifty day simple moving average of $318.39 and a two-hundred day simple moving average of $298.91. Amgen has a 52 week low of $248.38 and a 52 week high of $346.85. The stock has a market capitalization of $172.99 billion, a PE ratio of 46.07, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the business posted $5.00 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares in the last quarter. Capital International Investors grew its stake in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Amgen by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares in the last quarter. Royal Bank of Canada grew its stake in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares in the last quarter. Finally, Norges Bank acquired a new stake in Amgen during the fourth quarter worth about $1,556,912,000. Institutional investors own 76.50% of the company’s stock.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a $2.25 dividend. The ex-dividend date is Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s payout ratio is presently 128.57%.

Amgen Company Profile

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.