Amgen Inc. (NASDAQ:AMGN) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $12.15-12.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.56. The company issued revenue guidance of $22.5-23.0 billion, compared to the consensus revenue estimate of $22.85 billion.

A number of brokerages have weighed in on AMGN. BMO Capital Markets downgraded Amgen from an outperform rating to a market perform rating and set a $199.00 target price on the stock. in a report on Friday, July 21st. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Leerink Swann reaffirmed a market perform rating and issued a $161.00 target price on shares of Amgen in a report on Thursday, June 22nd. Credit Suisse Group set a $177.00 target price on Amgen and gave the company a hold rating in a report on Friday, July 14th. Finally, UBS AG set a $180.00 target price on Amgen and gave the company a hold rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $186.14.

Shares of Amgen Inc. (NASDAQ:AMGN) traded up 0.49% on Monday, reaching $186.67. The company had a trading volume of 1,140,646 shares. The company has a market capitalization of $136.21 billion, a PE ratio of 17.00 and a beta of 1.35. Amgen Inc. has a one year low of $133.64 and a one year high of $191.10. The company’s 50-day moving average is $175.99 and its 200-day moving average is $169.31.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The business had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the prior year, the business posted $2.84 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Amgen Inc. will post $12.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 17th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, August 15th. Amgen’s dividend payout ratio (DPR) is 41.93%.

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Several large investors have recently modified their holdings of AMGN. Salem Investment Counselors Inc. raised its stake in shares of 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. Logan Capital Management Inc. raised its stake in shares of Amgen by 6.8% during the second quarter. Logan Capital Management Inc. now owns 1,320 shares of the medical research company’s stock valued at $227,000 after acquiring an additional 84 shares during the last quarter. Cheviot Value Management LLC raised its stake in shares of Amgen by 4.7% during the second quarter. Cheviot Value Management LLC now owns 1,674 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 75 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Amgen during the second quarter valued at about $296,000. Finally, Colonial Trust Advisors raised its stake in shares of Amgen by 16.0% during the second quarter. Colonial Trust Advisors now owns 1,740 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 240 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

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).

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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