Amgen Inc. (AMGN) Updates FY17 Earnings Guidance
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).
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