Leerink Swann Comments on Amgen Inc.’s FY2018 Earnings (AMGN)

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Leerink Swann decreased their FY2018 earnings per share (EPS) estimates for Amgen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now anticipates that the medical research company will post earnings per share of $12.74 for the year, down from their previous forecast of $12.76. Leerink Swann has a “Market Perform” rating and a $161.00 price target on the stock. Leerink Swann also issued estimates for Amgen’s FY2019 earnings at $12.59 EPS, FY2020 earnings at $12.45 EPS and FY2021 earnings at $12.39 EPS.

AMGN has been the topic of a number of other research reports. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 target price on the stock. in a report on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group restated a “neutral” rating and issued a $186.00 target price (up previously from $177.00) on shares of Amgen in a report on Friday, September 29th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Morgan Stanley restated an “overweight” rating and issued a $196.00 target price (up previously from $189.00) on shares of Amgen in a report on Friday, October 6th. Finally, UBS AG set a $180.00 target price on Amgen and gave the company a “hold” rating in a report on Wednesday, July 26th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $189.94.

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Amgen (NASDAQ AMGN) traded down 0.63% during midday trading on Wednesday, reaching $182.96. The company’s stock had a trading volume of 3,178,972 shares. The firm has a 50 day moving average of $184.98 and a 200 day moving average of $171.46. The firm has a market cap of $133.50 billion, a P/E ratio of 16.66 and a beta of 1.36. Amgen has a 52-week low of $133.64 and a 52-week high of $191.10.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 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 $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.84 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Janus Henderson Group PLC lifted its stake in shares of Amgen by 3,664.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock valued at $637,139,000 after acquiring an additional 3,601,087 shares during the last quarter. FMR LLC lifted its stake in shares of Amgen by 4.8% in the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after acquiring an additional 2,587,041 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Amgen by 40.9% in the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after acquiring an additional 986,700 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after acquiring an additional 909,689 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after acquiring an additional 806,119 shares during the last quarter. 78.08% of the stock is owned by institutional investors.

In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

About Amgen

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).

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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