Amgen, Inc. (NASDAQ:AMGN) – Research analysts at G.Research dropped their FY2020 earnings per share (EPS) estimates for shares of Amgen in a report issued on Tuesday, August 27th, Zacks Investment Research reports. G.Research analyst J. He now expects that the medical research company will earn $14.80 per share for the year, down from their previous forecast of $14.95. G.Research also issued estimates for Amgen’s FY2021 earnings at $15.75 EPS, FY2022 earnings at $16.50 EPS and FY2023 earnings at $16.90 EPS.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $3.83 earnings per share.
Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada raised their target price on Amgen from $192.00 to $206.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. set a $198.00 target price on Amgen and gave the stock a “hold” rating in a report on Friday, September 6th. William Blair restated a “hold” rating on shares of Amgen in a report on Friday, August 30th. BMO Capital Markets restated a “buy” rating on shares of Amgen in a report on Monday, September 9th. Finally, Mizuho cut Amgen from a “buy” rating to a “neutral” rating and raised their target price for the stock from $208.00 to $212.00 in a report on Monday, August 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and a consensus target price of $217.33.
Shares of AMGN opened at $195.47 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. Amgen has a 1 year low of $166.30 and a 1 year high of $211.90. The stock has a market cap of $117.45 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The stock’s 50-day moving average price is $196.60 and its two-hundred day moving average price is $185.19.
Several large investors have recently bought and sold shares of AMGN. Gifford Fong Associates increased its holdings in shares of Amgen by 25.3% during the 2nd quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after acquiring an additional 13,671 shares during the last quarter. Bray Capital Advisors increased its holdings in shares of Amgen by 11.6% during the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after acquiring an additional 2,045 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Amgen during the 1st quarter worth approximately $239,000. CHICAGO TRUST Co NA increased its holdings in shares of Amgen by 2.8% during the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after acquiring an additional 100 shares during the last quarter. Finally, BHK Investment Advisors LLC increased its holdings in shares of Amgen by 3.9% during the 2nd quarter. BHK Investment Advisors LLC now owns 2,197 shares of the medical research company’s stock worth $405,000 after acquiring an additional 82 shares during the last quarter. 76.28% of the stock is currently owned by hedge funds and other institutional investors.
In other Amgen news, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cynthia M. Patton sold 13,426 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the transaction, the senior vice president now directly owns 32,648 shares in the company, valued at approximately $6,793,069.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock worth $3,659,900 in the last quarter. 0.25% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, August 14th. Amgen’s dividend payout ratio (DPR) is presently 40.28%.
About Amgen
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.