Amgen, Inc. (NASDAQ:AMGN) – Piper Jaffray Companies reduced their Q4 2019 EPS estimates for Amgen in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst C. Raymond now anticipates that the medical research company will post earnings of $3.39 per share for the quarter, down from their previous estimate of $3.58. Piper Jaffray Companies has a “Overweight” rating and a $210.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Amgen’s FY2022 earnings at $15.77 EPS.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. Amgen’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS.
Shares of AMGN opened at $187.06 on Friday. The stock has a market capitalization of $121.08 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.95 and a beta of 1.37. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 3.12. Amgen has a 52-week low of $163.31 and a 52-week high of $210.19.
A number of hedge funds have recently bought and sold shares of AMGN. Beutel Goodman & Co Ltd. purchased a new stake in Amgen during the second quarter valued at about $86,723,000. Natixis lifted its stake in Amgen by 2,612.1% during the second quarter. Natixis now owns 529,816 shares of the medical research company’s stock valued at $97,799,000 after buying an additional 510,281 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amgen by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,365,045 shares of the medical research company’s stock worth $436,551,000 after purchasing an additional 343,690 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Amgen by 234.2% in the second quarter. Bank of Nova Scotia now owns 433,450 shares of the medical research company’s stock worth $80,011,000 after purchasing an additional 303,743 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Amgen in the second quarter worth approximately $54,522,000. 82.37% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 16th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Thursday, November 15th. Amgen’s dividend payout ratio is presently 41.97%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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