Analysts Offer Predictions for Amgen Inc.’s Q3 2016 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Leerink Swann dropped their Q3 2016 earnings per share estimates for Amgen in a research report issued on Friday. Leerink Swann analyst G. Porges now anticipates that the firm will earn $3.01 per share for the quarter, down from their prior forecast of $3.03. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2016 earnings at $11.77 EPS.
AMGN has been the topic of a number of other reports. Jefferies Group reiterated a “buy” rating on shares of Amgen in a report on Wednesday, September 28th. Vetr upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating and set a $188.11 target price on the stock in a report on Thursday, September 29th. Robert W. Baird restated an “outperform” rating and set a $157.00 target price on shares of Amgen in a report on Friday, August 26th. Gabelli started coverage on shares of Amgen in a report on Friday, August 26th. They set a “hold” rating on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $190.00 target price on shares of Amgen in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $184.94.
Amgen (NASDAQ:AMGN) opened at 167.50 on Monday. Amgen has a 12-month low of $139.02 and a 12-month high of $176.85. The stock’s 50 day moving average is $170.75 and its 200-day moving average is $161.82. The company has a market capitalization of $125.35 billion, a P/E ratio of 17.14 and a beta of 0.94.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 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 the consensus estimate of $5.58 billion. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AMGN. Bank of Montreal Can acquired a new position in shares of Amgen during the second quarter valued at approximately $383,036,000. Wellington Management Group LLP increased 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 in the last quarter. Nordea Investment Management AB increased its position in 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 valued at $870,171,000 after buying an additional 1,547,099 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Amgen during the second quarter valued at about $194,466,000. Finally, FMR LLC increased its position 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. 79.15% of the stock is owned by hedge funds and other institutional investors.
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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