Amgen, Inc. (NASDAQ:AMGN) – Investment analysts at Oppenheimer issued their FY2018 earnings estimates for shares of Amgen in a research note issued on Sunday, January 27th, Zacks Investment Research reports. Oppenheimer analyst L. Cann anticipates that the medical research company will post earnings of $14.26 per share for the year. Oppenheimer currently has a “Buy” rating and a $224.00 target price on the stock. Oppenheimer also issued estimates for Amgen’s Q4 2018 earnings at $3.27 EPS, FY2019 earnings at $14.87 EPS, FY2020 earnings at $15.56 EPS, FY2021 earnings at $15.78 EPS and FY2022 earnings at $16.07 EPS.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, January 29th. The medical research company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.26 by $0.16. Amgen had a return on equity of 66.74% and a net margin of 35.35%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the business earned $2.89 earnings per share.
Other analysts also recently issued reports about the company. Citigroup increased their price objective on Amgen from $204.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, January 4th. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, January 14th. Goldman Sachs Group restated a “buy” rating and issued a $232.00 price objective on shares of Amgen in a report on Thursday, January 17th. Mizuho reiterated a “buy” rating and set a $206.00 price target on shares of Amgen in a report on Friday, October 26th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Amgen in a report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. Amgen has a consensus rating of “Hold” and a consensus price target of $205.77.
Shares of AMGN opened at $185.50 on Wednesday. Amgen has a 52 week low of $163.31 and a 52 week high of $210.19. The firm has a market capitalization of $116.35 billion, a PE ratio of 12.88, a PEG ratio of 2.07 and a beta of 1.21. The company has a debt-to-equity ratio of 2.36, a current ratio of 2.79 and a quick ratio of 2.57.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.32. This represents a $5.80 annualized dividend and a dividend yield of 3.13%. Amgen’s dividend payout ratio (DPR) is currently 40.28%.
In other news, Director Tyler Jacks sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $195.41, for a total value of $3,908,200.00. Following the completion of the sale, the director now directly owns 28,979 shares in the company, valued at approximately $5,662,786.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $202.88, for a total transaction of $360,517.76. Following the completion of the transaction, the senior vice president now directly owns 23,090 shares in the company, valued at approximately $4,684,499.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,777 shares of company stock valued at $4,648,718. 0.27% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Amgen by 2.0% in the 4th quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after acquiring an additional 906,568 shares in the last quarter. FMR LLC lifted its position in Amgen by 4.4% in the 3rd quarter. FMR LLC now owns 35,823,268 shares of the medical research company’s stock valued at $7,425,805,000 after acquiring an additional 1,505,266 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Amgen by 20,103.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after acquiring an additional 31,268,677 shares in the last quarter. Capital International Investors lifted its position in Amgen by 301.4% in the 3rd quarter. Capital International Investors now owns 11,093,182 shares of the medical research company’s stock valued at $2,299,506,000 after acquiring an additional 8,329,861 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Amgen by 4.7% in the 4th quarter. Northern Trust Corp now owns 9,182,050 shares of the medical research company’s stock valued at $1,787,470,000 after acquiring an additional 408,675 shares in the last quarter. 76.96% of the stock is currently owned by institutional investors and hedge funds.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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