Amgen, Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Swann boosted their Q4 2018 earnings per share estimates for Amgen in a note issued to investors on Friday, according to Zacks Investment Research. Leerink Swann analyst G. Porges now expects that the medical research company will earn $3.34 per share for the quarter, up from their previous estimate of $3.03. Leerink Swann has a “Market Perform” rating on the stock.
AMGN has been the topic of several other research reports. Mizuho reissued a “buy” rating and issued a $200.00 price target (up previously from $192.00) on shares of Amgen in a research note on Monday. Morgan Stanley decreased their price objective on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Royal Bank of Canada reduced their price target on Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. Finally, BMO Capital Markets raised their price objective on shares of Amgen from $192.00 to $202.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $191.84.
Amgen (NASDAQ:AMGN) traded up $1.72 on Monday, hitting $175.18. The company’s stock had a trading volume of 1,562,396 shares, compared to its average volume of 3,780,000. Amgen has a 1 year low of $152.16 and a 1 year high of $201.23. The firm has a market cap of $127,220.00, a P/E ratio of 67.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42. The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). Amgen had a net margin of 8.66% and a return on equity of 30.87%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the business earned $2.89 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of AMGN. Baker Ellis Asset Management LLC bought a new position in shares of Amgen during the 3rd quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. grew its position in shares of Amgen by 0.8% during 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. bought a new position in shares of Amgen during the 2nd quarter valued at approximately $110,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Amgen by 110.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 340 shares during the period. Finally, Omnia Family Wealth LLC grew its position in shares of Amgen by 25.3% during 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. 78.95% of the stock is owned by institutional investors and hedge funds.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Amgen declared that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 3.01%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is presently 178.29%.
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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