SVB Leerink Weighs in on Amgen Inc.’s Q3 2021 Earnings (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Research analysts at SVB Leerink cut their Q3 2021 earnings estimates for shares of Amgen in a note issued to investors on Tuesday, October 12th. SVB Leerink analyst G. Porges now forecasts that the medical research company will post earnings of $4.11 per share for the quarter, down from their prior estimate of $4.18. SVB Leerink has a “Hold” rating on the stock. SVB Leerink also issued estimates for Amgen’s Q4 2021 earnings at $3.54 EPS, FY2021 earnings at $15.73 EPS and FY2025 earnings at $21.97 EPS.

Amgen (NASDAQ:AMGN) last released its earnings results on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.29. Amgen had a return on equity of 99.85% and a net margin of 22.55%. The business had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.43 billion.

Several other research firms also recently weighed in on AMGN. Daiwa Capital Markets downgraded Amgen from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a research report on Thursday, September 23rd. Mizuho began coverage on Amgen in a report on Friday, September 10th. They issued a “hold” rating and a $222.00 price objective for the company. Zacks Investment Research upgraded Amgen from a “sell” rating to a “hold” rating and set a $255.00 price objective for the company in a report on Tuesday, June 29th. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, August 5th. Finally, Morgan Stanley decreased their price objective on Amgen from $251.00 to $235.00 and set an “equal weight” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $244.58.

NASDAQ:AMGN opened at $203.61 on Wednesday. Amgen has a twelve month low of $200.47 and a twelve month high of $276.69. The company has a market cap of $115.62 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. The stock has a fifty day simple moving average of $219.95 and a 200-day simple moving average of $236.75. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 3.45.

Several hedge funds have recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new stake in Amgen in the 3rd quarter valued at about $239,000. Ironwood Wealth Management LLC. raised its holdings in Amgen by 35.6% during the first quarter. Ironwood Wealth Management LLC. now owns 6,380 shares of the medical research company’s stock worth $1,587,000 after purchasing an additional 1,675 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in Amgen during the first quarter worth $1,957,000. Y Intercept Hong Kong Ltd acquired a new position in Amgen during the first quarter worth $581,000. Finally, Prudential Financial Inc. raised its holdings in Amgen by 15.6% during the first quarter. Prudential Financial Inc. now owns 567,707 shares of the medical research company’s stock worth $141,251,000 after purchasing an additional 76,486 shares during the last quarter. 74.73% of the stock is owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, August 16th. Amgen’s payout ratio is 42.41%.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

Read More: What is the S&P/ASX 200 Index?

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.