Amgen, Inc. (NASDAQ:AMGN) – Analysts at Oppenheimer lifted their Q4 2019 earnings per share estimates for Amgen in a report issued on Sunday, December 1st. Oppenheimer analyst J. Olson now forecasts that the medical research company will earn $3.44 per share for the quarter, up from their previous forecast of $3.10. Oppenheimer currently has a “Buy” rating and a $240.00 target price on the stock. Oppenheimer also issued estimates for Amgen’s FY2020 earnings at $16.71 EPS.
Several other analysts have also recently commented on the stock. Cowen set a $231.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Sunday, September 29th. Piper Jaffray Companies boosted their price target on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Credit Suisse Group reissued an “outperform” rating and set a $225.00 price target (up from $202.00) on shares of Amgen in a report on Friday, August 16th. Leerink Swann increased their price target on shares of Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of Amgen in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $223.12.
NASDAQ:AMGN opened at $233.41 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.89 and a quick ratio of 2.59. The firm has a market cap of $139.47 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The firm’s fifty day moving average price is $218.94 and its 200 day moving average price is $195.74. Amgen has a 1-year low of $166.30 and a 1-year high of $235.80.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.53 by $0.13. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Amgen had a return on equity of 80.26% and a net margin of 34.48%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 EPS.
A number of hedge funds have recently modified their holdings of AMGN. Gifford Fong Associates lifted its holdings in shares of Amgen by 25.3% in the second quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock valued at $12,470,000 after purchasing an additional 13,671 shares in the last quarter. Bray Capital Advisors raised its position in shares of Amgen by 11.6% during the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after purchasing an additional 2,045 shares during the last quarter. Private Advisor Group LLC lifted its stake in Amgen by 4.0% in the 2nd quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock valued at $7,093,000 after buying an additional 1,494 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Amgen in the 2nd quarter valued at approximately $15,515,000. Finally, BHK Investment Advisors LLC grew its holdings in Amgen by 3.9% during the 2nd quarter. BHK Investment Advisors LLC now owns 2,197 shares of the medical research company’s stock valued at $405,000 after buying an additional 82 shares during the last quarter. 76.64% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total transaction of $387,160.00. Following the sale, the director now owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David W. Meline sold 8,737 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $234.36, for a total value of $2,047,603.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,162 shares of company stock valued at $4,601,190. 0.25% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $1.45 per share. The ex-dividend date is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.48%. Amgen’s payout ratio is currently 40.28%.
Amgen Company Profile
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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