Leerink Swann Comments on Amgen Inc.’s Q3 2016 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Swann dropped their Q3 2016 earnings per share estimates for shares of Amgen in a research note issued to investors on Friday. Leerink Swann analyst G. Porges now forecasts that the firm will post earnings of $3.01 per share for the quarter, down from their previous forecast of $3.03. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2016 earnings at $11.77 EPS.
Several other research firms also recently commented on AMGN. BMO Capital Markets reissued an “outperform” rating and set a $190.00 price objective on shares of Amgen in a report on Thursday, September 22nd. Jefferies Group reissued a “buy” rating and set a $198.00 price objective on shares of Amgen in a report on Tuesday, August 23rd. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 price objective for the company in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $206.00 price objective on shares of Amgen and gave the company a “buy” rating in a report on Saturday, September 17th. Finally, Argus restated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Amgen in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $184.94.
Shares of Amgen (NASDAQ:AMGN) opened at 168.31 on Monday. The firm’s 50-day moving average price is $170.60 and its 200 day moving average price is $162.14. The company has a market capitalization of $125.96 billion, a PE ratio of 17.22 and a beta of 0.94. Amgen has a 52-week low of $139.02 and a 52-week high of $176.85.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.10. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS.
In other Amgen news, VP Annette Louise Such sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Valley National Advisers Inc. boosted its position in 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 in the last quarter. Glassman Wealth Services boosted its position in 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 in the last quarter. Oakworth Capital Inc. boosted its position in 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 in the last quarter. Integrated Wealth Management boosted its position in 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 in the last quarter. Finally, Delta Asset Management LLC TN boosted 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 in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.
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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