Amgen, Inc. (NASDAQ:AMGN) – Research analysts at Jefferies Financial Group raised their Q2 2019 earnings estimates for shares of Amgen in a note issued to investors on Tuesday, July 9th. Jefferies Financial Group analyst M. Yee now anticipates that the medical research company will earn $3.62 per share for the quarter, up from their prior estimate of $3.59. Jefferies Financial Group also issued estimates for Amgen’s FY2019 earnings at $13.80 EPS.
Other equities analysts have also issued research reports about the stock. Citigroup upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and set a $66.80 price target on the stock in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Mizuho set a $21.00 price target on shares of Neon Therapeutics and gave the company a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada reiterated a “neutral” rating and issued a $192.00 price target on shares of Amgen in a report on Tuesday, May 21st. Finally, Cowen reiterated a “hold” rating and issued a $103.00 price target on shares of United Therapeutics in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. Amgen has an average rating of “Hold” and an average target price of $208.35.
Shares of AMGN opened at $174.93 on Friday. The firm has a market cap of $106.70 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 2.17 and a beta of 1.16. The company has a fifty day moving average of $178.65. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $210.19. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.53 and a current ratio of 2.77.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.11. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.55 billion. Amgen had a net margin of 34.00% and a return on equity of 71.02%. Amgen’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS.
In related news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 6,000 shares of company stock worth $1,077,980 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Weaver Consulting Group acquired a new position in Amgen in the 1st quarter worth $239,000. Commonwealth Bank of Australia lifted its holdings in Amgen by 19.7% in the 4th quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock worth $13,027,000 after buying an additional 11,040 shares in the last quarter. Phocas Financial Corp. acquired a new position in Amgen in the 4th quarter worth $117,000. Duality Advisers LP acquired a new position in Amgen in the 4th quarter worth $3,983,000. Finally, Nordea Investment Management AB lifted its holdings in Amgen by 5.0% in the 1st quarter. Nordea Investment Management AB now owns 4,709,467 shares of the medical research company’s stock worth $894,700,000 after buying an additional 225,485 shares in the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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