Q3 2019 EPS Estimates for Amgen, Inc. Lifted by Analyst (NASDAQ:AMGN)

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Amgen, Inc. (NASDAQ:AMGN) – Stock analysts at Oppenheimer lifted their Q3 2019 earnings per share (EPS) estimates for shares of Amgen in a research report issued to clients and investors on Monday, August 12th. Oppenheimer analyst J. Olson now expects that the medical research company will post earnings of $3.48 per share for the quarter, up from their previous forecast of $3.39. Oppenheimer has a “Outperform” rating and a $230.00 price objective on the stock. Oppenheimer also issued estimates for Amgen’s Q4 2019 earnings at $3.29 EPS, FY2019 earnings at $14.31 EPS, FY2020 earnings at $15.96 EPS, FY2021 earnings at $16.78 EPS, FY2022 earnings at $17.29 EPS and FY2023 earnings at $17.81 EPS.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 earnings per share.

A number of other research firms have also recently commented on AMGN. Wells Fargo & Co increased their price target on shares of Amgen from $197.00 to $202.00 and gave the company a “market perform” rating in a report on Monday. BMO Capital Markets set a $230.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Wednesday, July 31st. Credit Suisse Group set a $202.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Amgen in a report on Friday, August 9th. Finally, Citigroup reiterated a “buy” rating on shares of Amgen in a report on Monday. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Amgen currently has a consensus rating of “Buy” and an average target price of $211.44.

Shares of AMGN opened at $199.31 on Wednesday. The stock has a market cap of $119.83 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $211.90. The firm’s 50-day simple moving average is $183.54 and its two-hundred day simple moving average is $182.71.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 14th. Amgen’s dividend payout ratio is currently 40.28%.

In related news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $175.68, for a total transaction of $351,360.00. Following the completion of the sale, the director now owns 16,219 shares in the company, valued at approximately $2,849,353.92. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock worth $804,312 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AMGN. Bangor Savings Bank raised its position in shares of Amgen by 2.1% during the 1st quarter. Bangor Savings Bank now owns 2,682 shares of the medical research company’s stock valued at $510,000 after purchasing an additional 55 shares during the period. Carroll Financial Associates Inc. raised its position in shares of Amgen by 0.8% during the 2nd quarter. Carroll Financial Associates Inc. now owns 7,436 shares of the medical research company’s stock valued at $1,370,000 after purchasing an additional 58 shares during the period. Lincoln Capital Corp raised its position in shares of Amgen by 0.3% during the 2nd quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock valued at $3,959,000 after purchasing an additional 58 shares during the period. Slow Capital Inc. raised its position in shares of Amgen by 0.4% during the 2nd quarter. Slow Capital Inc. now owns 13,799 shares of the medical research company’s stock valued at $2,543,000 after purchasing an additional 58 shares during the period. Finally, Nicholas Hoffman & Company LLC. raised its position in shares of Amgen by 5.0% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,207 shares of the medical research company’s stock valued at $222,000 after purchasing an additional 58 shares during the period. Institutional investors own 78.96% of the company’s stock.

About Amgen

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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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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