Amgen, Inc. (NASDAQ:AMGN) – Equities researchers at Jefferies Financial Group reduced their Q4 2018 earnings per share estimates for shares of Amgen in a note issued to investors on Wednesday, October 31st. Jefferies Financial Group analyst M. Yee now anticipates that the medical research company will earn $3.18 per share for the quarter, down from their prior forecast of $3.38. Jefferies Financial Group currently has a “Buy” rating and a $220.00 price target on the stock. Jefferies Financial Group also issued estimates for Amgen’s FY2020 earnings at $15.27 EPS.
AMGN has been the topic of several other reports. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 price objective on the stock in a research report on Monday, October 1st. Citigroup increased their price target on shares of Amgen from $188.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Mizuho reiterated a “buy” rating and set a $206.00 price target on shares of Amgen in a research report on Friday, October 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Amgen in a research report on Thursday, October 25th. Finally, Robert W. Baird increased their price target on shares of Amgen from $165.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $204.55.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.24. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. Amgen’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 earnings per share.
Several large investors have recently added to or reduced their stakes in AMGN. Beutel Goodman & Co Ltd. purchased a new stake in shares of Amgen during the second quarter valued at approximately $86,723,000. Natixis lifted its stake in Amgen by 2,612.1% in the second quarter. Natixis now owns 529,816 shares of the medical research company’s stock worth $97,799,000 after acquiring an additional 510,281 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 343,690 shares during the period. Bank of Nova Scotia lifted its stake in 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 acquiring an additional 303,743 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new stake in Amgen in the second quarter worth $54,522,000. 82.37% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders 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 dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, November 15th. Amgen’s dividend payout ratio (DPR) is presently 41.97%.
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, 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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