Amgen (NASDAQ:AMGN) – Piper Jaffray raised their Q2 2018 earnings estimates for shares of Amgen in a research report issued to clients and investors on Tuesday, April 24th. Piper Jaffray analyst C. Raymond now forecasts that the medical research company will earn $3.56 per share for the quarter, up from their prior estimate of $3.51. Piper Jaffray has a “Overweight” rating and a $190.00 price objective on the stock. Piper Jaffray also issued estimates for Amgen’s Q3 2018 earnings at $3.30 EPS, FY2018 earnings at $13.48 EPS, Q1 2019 earnings at $3.54 EPS, Q2 2019 earnings at $3.49 EPS, Q3 2019 earnings at $3.51 EPS, Q4 2019 earnings at $3.28 EPS, FY2019 earnings at $13.83 EPS, FY2021 earnings at $14.35 EPS and FY2022 earnings at $14.65 EPS.
Several other equities analysts have also recently issued reports on AMGN. Mizuho set a $192.00 target price on Amgen and gave the company a “buy” rating in a research note on Thursday, December 28th. Vetr lowered Amgen from a “buy” rating to a “hold” rating and set a $184.25 price target on the stock. in a research report on Wednesday, January 3rd. Oppenheimer set a $205.00 price target on Amgen and gave the company a “buy” rating in a research report on Friday, January 5th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Argus upgraded Amgen from a “hold” rating to a “buy” rating and lifted their price target for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company’s stock. Amgen currently has an average rating of “Hold” and an average price target of $190.48.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.23. Amgen had a return on equity of 31.55% and a net margin of 9.67%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the firm earned $3.15 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year.
Several large investors have recently made changes to their positions in AMGN. South Texas Money Management Ltd. increased its position in Amgen by 0.7% during the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 22 shares during the last quarter. Glenview Trust Co increased its position in Amgen by 0.4% during the second quarter. Glenview Trust Co now owns 6,137 shares of the medical research company’s stock valued at $1,057,000 after acquiring an additional 25 shares during the last quarter. Roberts Glore & Co. Inc. IL increased its position in Amgen by 0.4% during the second quarter. Roberts Glore & Co. Inc. IL now owns 7,425 shares of the medical research company’s stock valued at $1,279,000 after acquiring an additional 27 shares during the last quarter. Salem Investment Counselors Inc. increased its position in Amgen by 4.7% during the second quarter. Salem Investment Counselors Inc. now owns 809 shares of the medical research company’s stock valued at $139,000 after acquiring an additional 36 shares during the last quarter. Finally, Keel Point LLC increased its position in Amgen by 1.2% during the second quarter. Keel Point LLC now owns 3,509 shares of the medical research company’s stock valued at $604,000 after acquiring an additional 43 shares during the last quarter. 85.76% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total transaction of $265,624.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 4,575 shares of company stock worth $818,330. Corporate insiders own 0.19% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, May 16th. Amgen’s payout ratio is currently 41.97%.
Amgen announced that its board has approved a share repurchase plan on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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