Amgen Inc. (NASDAQ:AMGN – Get Rating) – Stock analysts at Zacks Research dropped their Q4 2022 EPS estimates for shares of Amgen in a research note issued on Wednesday, November 16th. Zacks Research analyst K. Shah now forecasts that the medical research company will post earnings per share of $3.83 for the quarter, down from their prior estimate of $4.16. The consensus estimate for Amgen’s current full-year earnings is $17.64 per share. Zacks Research also issued estimates for Amgen’s Q1 2023 earnings at $4.41 EPS, Q2 2023 earnings at $4.71 EPS, Q3 2023 earnings at $4.70 EPS, Q4 2023 earnings at $4.32 EPS, FY2023 earnings at $18.14 EPS, Q1 2024 earnings at $4.44 EPS, Q2 2024 earnings at $4.85 EPS and Q3 2024 earnings at $4.71 EPS.
Several other analysts also recently weighed in on the stock. Truist Financial lifted their target price on shares of Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a report on Tuesday, November 8th. StockNews.com assumed coverage on shares of Amgen in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Atlantic Securities dropped their price target on shares of Amgen from $190.00 to $182.00 and set an “underweight” rating for the company in a research note on Tuesday, August 9th. Oppenheimer boosted their price target on shares of Amgen to $300.00 in a research note on Tuesday. Finally, Barclays downgraded shares of Amgen from an “equal weight” rating to an “underweight” rating and set a $234.00 price target for the company. in a research note on Monday, October 31st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $248.73.
Amgen Stock Up 1.2 %
Shares of NASDAQ AMGN opened at $287.30 on Friday. The company has a 50 day simple moving average of $251.23 and a 200-day simple moving average of $247.14. The company has a market capitalization of $153.30 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.27 and a beta of 0.64. The company has a debt-to-equity ratio of 10.17, a current ratio of 1.68 and a quick ratio of 1.35. Amgen has a 1 year low of $198.64 and a 1 year high of $296.67.
Amgen (NASDAQ:AMGN – Get Rating) last released its earnings results on Thursday, November 3rd. The medical research company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.26. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $4.67 EPS.
Amgen Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a dividend of $1.94 per share. The ex-dividend date is Wednesday, November 16th. This represents a $7.76 annualized dividend and a yield of 2.70%. Amgen’s payout ratio is currently 62.23%.
Insiders Place Their Bets
In other Amgen news, Director R Sanders Williams sold 200 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the transaction, the director now directly owns 5,301 shares in the company, valued at $1,325,037.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amgen news, Director R Sanders Williams sold 200 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $249.96, for a total value of $49,992.00. Following the sale, the director now owns 5,301 shares of the company’s stock, valued at $1,325,037.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 545 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares in the company, valued at approximately $3,818,661.86. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Amgen
Institutional investors and hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in Amgen during the third quarter worth approximately $25,000. Leelyn Smith LLC increased its position in shares of Amgen by 80.3% in the third quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Amgen in the first quarter worth $26,000. Capital Wealth Alliance LLC acquired a new stake in shares of Amgen in the second quarter worth $26,000. Finally, Coston McIsaac & Partners acquired a new stake in shares of Amgen in the second quarter worth $27,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
Further Reading
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