Q3 2024 EPS Estimates for Amgen Inc. Decreased by William Blair (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at William Blair dropped their Q3 2024 earnings per share estimates for shares of Amgen in a research note issued on Wednesday, August 7th. William Blair analyst M. Phipps now anticipates that the medical research company will earn $4.85 per share for the quarter, down from their previous forecast of $5.41. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.50 per share. William Blair also issued estimates for Amgen’s Q4 2024 earnings at $5.48 EPS, Q1 2025 earnings at $4.88 EPS and Q3 2025 earnings at $5.34 EPS.

Other analysts also recently issued reports about the company. BMO Capital Markets increased their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada raised their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target (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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.89.

Amgen Stock Performance

Shares of AMGN opened at $322.49 on Friday. The business’s fifty day simple moving average is $318.39 and its two-hundred day simple moving average is $298.84. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen has a 12 month low of $248.38 and a 12 month high of $346.85. The company has a market cap of $172.99 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 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 for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the business posted $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis.

Institutional Investors Weigh In On Amgen

Institutional investors have recently bought and sold shares of the company. Keynote Financial Services LLC lifted its stake in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares in the last quarter. BIP Wealth LLC lifted its stake in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares in the last quarter. RFP Financial Group LLC lifted its stake in Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares in the last quarter. Hofer & Associates. Inc lifted its stake in Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after purchasing an additional 32 shares in the last quarter. Finally, Blossom Wealth Management lifted its stake in Amgen by 3.3% in the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after purchasing an additional 33 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, August 16th. Amgen’s payout ratio is 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.