FY2020 EPS Estimates for Amgen, Inc. Decreased by Analyst (NASDAQ:AMGN)
Amgen, Inc. (NASDAQ:AMGN) – Oppenheimer cut their FY2020 earnings estimates for Amgen in a research report issued on Monday, January 20th. Oppenheimer analyst J. Olson now anticipates that the medical research company will post earnings of $16.22 per share for the year, down from their previous forecast of $16.71. Oppenheimer also issued estimates for Amgen’s FY2021 earnings at $18.00 EPS, FY2022 earnings at $18.97 EPS and FY2023 earnings at $20.00 EPS.
Several other research firms have also issued reports on AMGN. Leerink Swann increased their price objective on shares of Amgen from $189.00 to $205.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Evercore ISI raised shares of Amgen from an “in-line” rating to an “outperform” rating in a research report on Tuesday. BidaskClub lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, December 31st. Cowen raised their price target on shares of Amgen from $253.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Goldman Sachs Group set a $243.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $240.11.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of AMGN. Marshall Wace LLP purchased a new position in Amgen in the 2nd quarter worth approximately $4,777,000. Victory Capital Management Inc. raised its position in shares of Amgen by 135.5% during the 2nd quarter. Victory Capital Management Inc. now owns 203,415 shares of the medical research company’s stock valued at $37,485,000 after buying an additional 117,023 shares during the period. Centaurus Financial Inc. raised its position in shares of Amgen by 448.4% during the 2nd quarter. Centaurus Financial Inc. now owns 2,391 shares of the medical research company’s stock valued at $441,000 after buying an additional 1,955 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Amgen by 9.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,780,461 shares of the medical research company’s stock valued at $512,383,000 after buying an additional 239,576 shares during the period. Finally, Waddell & Reed Financial Inc. raised its position in shares of Amgen by 1.1% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 204,298 shares of the medical research company’s stock valued at $37,648,000 after buying an additional 2,154 shares during the period. Institutional investors own 76.78% of the company’s stock.
In other news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $215.45, for a total value of $91,566.25. Following the transaction, the director now directly owns 5,413 shares in the company, valued at approximately $1,166,230.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David W. Meline sold 8,737 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $234.36, for a total transaction of $2,047,603.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,162 shares of company stock valued at $4,214,030. 0.25% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.60 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.45. This represents a $6.40 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, February 13th. Amgen’s dividend payout ratio (DPR) 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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