Leerink Swann Analysts Decrease Earnings Estimates for Amgen, Inc. (AMGN)
Amgen, Inc. (NASDAQ:AMGN) – Research analysts at Leerink Swann decreased their Q4 2017 earnings estimates for shares of Amgen in a research note issued on Thursday. Leerink Swann analyst G. Porges now forecasts that the medical research company will post earnings per share of $2.90 for the quarter, down from their prior forecast of $2.93. Leerink Swann also issued estimates for Amgen’s Q1 2018 earnings at $3.04 EPS, Q2 2018 earnings at $3.24 EPS, Q3 2018 earnings at $3.16 EPS and Q4 2018 earnings at $3.03 EPS.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. Amgen’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $3.02 EPS.
Amgen (NASDAQ AMGN) opened at $187.59 on Friday. The company has a market cap of $136,170.00, a P/E ratio of 16.95, a P/E/G ratio of 2.75 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. Amgen has a 1 year low of $150.38 and a 1 year high of $191.10.
Amgen announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.81%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s payout ratio is 41.55%.
In other news, Director Carbonnel Francois De sold 4,000 shares of Amgen stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,575 shares of company stock valued at $1,508,836. Insiders own 0.19% of the company’s stock.
Large investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new stake in Amgen in the 3rd quarter valued at $108,000. Jackson Grant Investment Advisers Inc. grew its stake in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the period. Phocas Financial Corp. acquired a new stake in Amgen in the 2nd quarter valued at $110,000. Omnia Family Wealth LLC grew its stake in Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the period. Finally, Grove Bank & Trust grew its stake in Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after acquiring an additional 341 shares during the period. 78.48% of the stock is owned by hedge funds and other institutional investors.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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