Amgen Inc. Expected to Post FY2018 Earnings of $13.00 Per Share (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Equities researchers at Gabelli lowered their FY2018 earnings per share estimates for shares of Amgen in a research report issued on Wednesday. Gabelli analyst J. He now forecasts that the firm will post earnings of $13.00 per share for the year, down from their prior estimate of $13.05. Gabelli currently has a “Hold” rating on the stock. Gabelli also issued estimates for Amgen’s FY2020 earnings at $12.15 EPS.
Other research analysts also recently issued research reports about the stock. Leerink Swann restated a “hold” rating on shares of Amgen in a report on Saturday, September 17th. Credit Suisse Group AG set a $206.00 price objective on shares of Amgen and gave the stock a “buy” rating in a report on Saturday, September 17th. Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $159.50 price objective on the stock in a report on Monday, June 13th. Jefferies Group restated a “buy” rating and set a $187.00 price objective on shares of Amgen in a report on Wednesday, July 13th. Finally, Robert W. Baird restated a “neutral” rating and set a $157.00 price objective on shares of Amgen in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $185.06.
Amgen (NASDAQ:AMGN) traded up 0.82% during mid-day trading on Thursday, hitting $166.81. 3,999,620 shares of the stock were exchanged. The stock’s 50-day moving average is $171.68 and its 200 day moving average is $161.02. The company has a market capitalization of $124.83 billion, a PE ratio of 17.07 and a beta of 0.87. Amgen has a 52 week low of $138.06 and a 52 week high of $176.85.
Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.10. The company earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. Amgen’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 EPS.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of Amgen during the second quarter worth $383,036,000. Wellington Management Group LLP boosted its position in shares of Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock worth $2,030,789,000 after buying an additional 1,864,688 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock worth $870,171,000 after buying an additional 1,547,099 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Amgen during the second quarter worth approximately $194,466,000. Finally, FMR LLC boosted its position in shares of Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock worth $4,927,672,000 after buying an additional 1,259,875 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Monday, August 15th. Amgen’s dividend payout ratio is currently 40.90%.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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