Q3 2017 Earnings Forecast for Amgen Inc. (NASDAQ:AMGN) Issued By Leerink Swann
Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Swann boosted their Q3 2017 earnings per share (EPS) estimates for shares of Amgen in a research report issued on Wednesday. Leerink Swann analyst G. Porges now anticipates that the medical research company will post earnings of $3.17 per share for the quarter, up from their prior forecast of $3.15. Leerink Swann has a “Market Perform” rating and a $161.00 price objective on the stock. Leerink Swann also issued estimates for Amgen’s FY2018 earnings at $12.76 EPS, FY2019 earnings at $12.61 EPS, FY2020 earnings at $12.48 EPS and FY2021 earnings at $12.42 EPS.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The company had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the prior year, the company earned $2.84 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis.
Other research analysts have also recently issued reports about the company. Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Mizuho set a $195.00 price target on Amgen and gave the stock a “buy” rating in a research note on Saturday, May 6th. Cowen and Company restated a “buy” rating and set a $209.00 price target on shares of Amgen in a research note on Thursday, April 27th. Vetr cut Amgen from a “strong-buy” rating to a “buy” rating and set a $178.82 price target on the stock. in a research note on Monday, April 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $198.00 price target (down from $200.00) on shares of Amgen in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $186.81.
Amgen (NASDAQ:AMGN) opened at 172.15 on Thursday. The company has a market capitalization of $126.60 billion, a price-to-earnings ratio of 16.35 and a beta of 1.36. Amgen has a 52 week low of $133.64 and a 52 week high of $184.21. The company’s 50-day moving average price is $172.14 and its 200-day moving average price is $166.19.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares in the company, valued at $3,738,641.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Amgen by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock valued at $1,403,676,000 after buying an additional 195,200 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter valued at $1,016,913,000. Loomis Sayles & Co. L P increased its stake in shares of Amgen by 4.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 3,001,021 shares of the medical research company’s stock valued at $438,779,000 after buying an additional 133,918 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Amgen by 1.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,894,780 shares of the medical research company’s stock valued at $474,947,000 after buying an additional 45,403 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Amgen by 10.5% in the first quarter. Bank of Montreal Can now owns 2,837,456 shares of the medical research company’s stock valued at $465,543,000 after buying an additional 269,586 shares during the period. Institutional investors and hedge funds own 78.87% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
Receive News & Stock Ratings for Amgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen Inc. and related stocks with our FREE daily email newsletter.