Amgen, Inc. (NASDAQ:AMGN) – Investment analysts at Oppenheimer lifted their Q4 2019 earnings per share (EPS) estimates for Amgen in a research report issued on Sunday, December 1st. Oppenheimer analyst J. Olson now anticipates that the medical research company will post earnings per share of $3.44 for the quarter, up from their prior forecast of $3.10. Oppenheimer currently has a “Buy” rating and a $240.00 price target on the stock. Oppenheimer also issued estimates for Amgen’s FY2020 earnings at $16.71 EPS.
Several other research analysts have also commented on AMGN. Piper Jaffray Companies lifted their price target on shares of Amgen from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 26th. 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 note on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Monday, October 14th. They set an “outperform” rating on the stock. Bank of America assumed coverage on shares of Amgen in a report on Wednesday, October 16th. They issued a “neutral” rating and a $215.00 target price on the stock. Finally, Cantor Fitzgerald upgraded Amgen from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $230.00 to $255.00 in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $221.47.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter in the previous year, the company posted $3.69 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, November 14th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
In other Amgen news, EVP Jonathan P. Graham sold 9,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $230.54, for a total value of $2,074,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total value of $387,160.00. Following the completion of the sale, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The disclosure for this sale can be found here. Insiders sold 20,162 shares of company stock valued at $4,601,190 over the last three months. Insiders own 0.25% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Advisors Preferred LLC acquired a new position in Amgen during the 2nd quarter worth $30,000. Balentine LLC grew its position in shares of Amgen by 36.1% in the third quarter. Balentine LLC now owns 181 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 48 shares during the last quarter. Atwater Malick LLC bought a new position in shares of Amgen in the third quarter worth about $39,000. Ashburton Jersey Ltd bought a new position in shares of Amgen in the second quarter worth about $42,000. Finally, Next Capital Management LLC lifted its position in shares of Amgen by 42.5% during the 2nd quarter. Next Capital Management LLC now owns 238 shares of the medical research company’s stock worth $44,000 after purchasing an additional 71 shares during the last quarter. 76.64% of the stock is currently owned by institutional investors and hedge funds.
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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