Amgen, Inc. (NASDAQ:AMGN) – G.Research lifted their FY2020 earnings per share (EPS) estimates for Amgen in a research report issued on Monday, August 12th. G.Research analyst J. He now expects that the medical research company will post earnings per share of $14.95 for the year, up from their prior forecast of $14.50. G.Research also issued estimates for Amgen’s FY2021 earnings at $16.15 EPS.
AMGN has been the topic of a number of other research reports. Cowen restated a “buy” rating and set a $229.00 price target on shares of Amgen in a research note on Wednesday, May 1st. Citigroup restated a “buy” rating on shares of Amgen in a research note on Monday. JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a research note on Friday, August 9th. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group set a $202.00 price target on shares of Amgen and gave the company a “buy” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Amgen presently has an average rating of “Buy” and an average target price of $211.44.
Shares of Amgen stock opened at $199.31 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. Amgen has a 12-month low of $166.30 and a 12-month high of $211.90. The firm has a market capitalization of $119.83 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.42 and a beta of 1.19. The firm’s 50 day simple moving average is $183.54 and its two-hundred day simple moving average is $182.71.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. Amgen’s revenue for the quarter was down 3.1% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in AMGN. Bray Capital Advisors grew its position in Amgen by 11.6% during the second quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock valued at $3,626,000 after buying an additional 2,045 shares during the period. Weaver Consulting Group acquired a new stake in Amgen during the first quarter valued at $239,000. CHICAGO TRUST Co NA grew its position in Amgen by 2.8% during the second quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock valued at $685,000 after buying an additional 100 shares during the period. Phocas Financial Corp. acquired a new stake in Amgen during the fourth quarter valued at $117,000. Finally, Calton & Associates Inc. grew its position in Amgen by 17.8% during the second quarter. Calton & Associates Inc. now owns 1,770 shares of the medical research company’s stock valued at $326,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 78.96% of the company’s stock.
In other news, Director R Sanders Williams sold 425 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock worth $804,312 in the last quarter. Company insiders own 0.25% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.91%. Amgen’s payout ratio is currently 40.28%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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