Analysts Offer Predictions for Amgen Inc.’s FY2017 Earnings (AMGN)
Amgen Inc. (NASDAQ:AMGN) – Research analysts at Leerink Swann increased their FY2017 EPS estimates for Amgen in a note issued to investors on Monday. Leerink Swann analyst G. Porges now anticipates that the brokerage will earn $13.04 per share for the year, up from their prior forecast of $13.02. Leerink Swann has a “Hold” rating on the stock. Leerink Swann also issued estimates for Amgen’s FY2018 earnings at $14.06 EPS, FY2019 earnings at $13.83 EPS and FY2020 earnings at $14.18 EPS.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.10. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The business earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter in the previous year, the business earned $2.57 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis.
Several other analysts have also weighed in on the company. Jefferies Group reissued a “buy” rating and set a $198.00 price objective on shares of Amgen in a report on Tuesday. Cowen and Company reissued a “buy” rating on shares of Amgen in a report on Monday. Credit Suisse Group AG set a $206.00 price objective on Amgen and gave the stock a “buy” rating in a report on Saturday, September 17th. Piper Jaffray Cos. set a $193.00 price objective on Amgen and gave the stock a “buy” rating in a report on Thursday, September 15th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $204.00 price objective on shares of Amgen in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $184.87.
Shares of Amgen (NASDAQ:AMGN) traded up 0.03% during mid-day trading on Wednesday, hitting $173.90. The stock had a trading volume of 239,812 shares. Amgen has a one year low of $130.09 and a one year high of $176.64. The firm has a market cap of $130.14 billion, a price-to-earnings ratio of 17.80 and a beta of 0.87. The company has a 50-day moving average of $171.97 and a 200 day moving average of $159.77.
Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Abner Herrman & Brock LLC boosted its position in Amgen by 430.9% in the first quarter. Abner Herrman & Brock LLC now owns 31,136 shares of the medical research company’s stock valued at $4,668,000 after buying an additional 25,271 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in Amgen by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 16,902 shares of the medical research company’s stock valued at $2,534,000 after buying an additional 590 shares in the last quarter. DnB Asset Management AS boosted its position in Amgen by 69.2% in the first quarter. DnB Asset Management AS now owns 62,366 shares of the medical research company’s stock valued at $9,351,000 after buying an additional 25,500 shares in the last quarter. CENTRAL TRUST Co purchased a new position in Amgen during the first quarter valued at $7,309,000. Finally, Newman Dignan & Sheerar Inc. boosted its position in Amgen by 1.5% in the first quarter. Newman Dignan & Sheerar Inc. now owns 10,834 shares of the medical research company’s stock valued at $1,624,000 after buying an additional 156 shares in the last quarter. 79.15% of the stock is owned by institutional investors.
In other news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th were given a dividend of $1.00 per share. The ex-dividend date was Monday, August 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.30%. Amgen’s dividend payout ratio is currently 40.90%.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. 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 Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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