FY2017 Earnings Estimate for Amgen Inc. Issued By Leerink Swann (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Swann upped their FY2017 earnings estimates for shares of Amgen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now anticipates that the brokerage will post earnings of $13.04 per share for the year, up from their prior forecast of $13.02. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2018 earnings at $14.06 EPS, FY2019 earnings at $13.83 EPS and FY2020 earnings at $14.18 EPS.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. The business earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. Amgen’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS.
AMGN has been the topic of a number of other reports. Robert W. Baird reiterated an “outperform” rating and issued a $157.00 price objective on shares of Amgen in a research report on Friday, August 26th. Jefferies Group reiterated a “buy” rating and issued a $198.00 price objective on shares of Amgen in a research report on Tuesday, August 23rd. Gabelli started coverage on Amgen in a research report on Friday, August 26th. They issued a “hold” rating on the stock. Vetr lowered Amgen from a “strong-buy” rating to a “buy” rating and set a $175.53 price objective on the stock. in a research report on Monday, May 30th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $204.00 price objective on shares of Amgen in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $184.87.
Amgen (NASDAQ:AMGN) traded up 0.0434% during midday trading on Wednesday, reaching $173.4553. The company had a trading volume of 1,510,514 shares. The stock has a market capitalization of $129.81 billion, a PE ratio of 17.7502 and a beta of 0.87. Amgen has a 12-month low of $130.09 and a 12-month high of $176.64. The company has a 50-day moving average of $171.98 and a 200-day moving average of $159.67.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Wednesday, August 17th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, August 15th. Amgen’s payout ratio is 40.90%.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of AMGN. Valley National Advisers Inc. boosted its stake in shares of Amgen by 4.8% in the second quarter. Valley National Advisers Inc. now owns 714 shares of the medical research company’s stock worth $109,000 after buying an additional 33 shares during the last quarter. Glassman Wealth Services boosted its stake in shares of Amgen by 480.0% in the second quarter. Glassman Wealth Services now owns 725 shares of the medical research company’s stock worth $110,000 after buying an additional 600 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Amgen by 16.6% in the second quarter. Oakworth Capital Inc. now owns 701 shares of the medical research company’s stock worth $111,000 after buying an additional 100 shares during the last quarter. Integrated Wealth Management boosted its stake in shares of Amgen by 0.3% in the second quarter. Integrated Wealth Management now owns 930 shares of the medical research company’s stock worth $141,000 after buying an additional 3 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position in Amgen by 9.1% in the second quarter. Delta Asset Management LLC TN now owns 1,020 shares of the medical research company’s stock worth $155,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.
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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