Brokers Offer Predictions for Amgen Inc.’s FY2019 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Gabelli dropped their FY2019 earnings estimates for shares of Amgen in a report released on Wednesday. Gabelli analyst J. He now expects that the brokerage will post earnings of $12.25 per share for the year, down from their previous forecast of $12.30. Gabelli has a “Hold” rating on the stock.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.57 EPS.
Other research analysts have also recently issued reports about the company. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $202.00 price target on shares of Amgen in a research report on Wednesday, June 15th. Vetr upgraded Amgen from a “hold” rating to a “buy” rating and set a $159.50 price target for the company in a research report on Monday, June 13th. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research report on Wednesday, June 29th. BMO Capital Markets reiterated a “buy” rating and set a $186.00 price target on shares of Amgen in a research report on Tuesday, July 12th. Finally, Jefferies Group reiterated a “buy” rating and set a $187.00 price target on shares of Amgen in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $185.06.
Shares of Amgen (NASDAQ:AMGN) traded up 0.82% during mid-day trading on Friday, hitting $166.81. The stock had a trading volume of 3,999,620 shares. The firm has a 50 day moving average of $171.68 and a 200-day moving average of $161.02. Amgen has a one year low of $138.06 and a one year high of $176.85. The stock has a market cap of $124.83 billion, a P/E ratio of 17.07 and a beta of 0.87.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Wednesday, August 17th were issued a $1.00 dividend. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.40%. Amgen’s dividend payout ratio is presently 40.90%.
In related news, VP Annette Louise Such sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Amgen by 1.5% in the second quarter. Vanguard Group Inc. now owns 46,679,076 shares of the medical research company’s stock valued at $7,102,222,000 after buying an additional 673,247 shares in the last quarter. FMR LLC increased its stake in Amgen by 4.0% in the second quarter. FMR LLC now owns 32,386,936 shares of the medical research company’s stock valued at $4,927,672,000 after buying an additional 1,259,875 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Amgen by 1.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 20,435,310 shares of the medical research company’s stock valued at $3,109,232,000 after buying an additional 271,591 shares during the last quarter. Wellington Management Group LLP boosted its position in 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 valued at $2,030,789,000 after buying an additional 1,864,688 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Amgen by 1.1% in the second quarter. BlackRock Fund Advisors now owns 12,971,828 shares of the medical research company’s stock valued at $1,973,664,000 after buying an additional 138,912 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.
Amgen Company Profile
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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