Brokers Offer Predictions for Amgen, Inc.’s Q3 2018 Earnings (AMGN)

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Amgen, Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Swann lowered their Q3 2018 earnings estimates for Amgen in a report issued on Monday, August 20th. Leerink Swann analyst G. Porges now anticipates that the medical research company will earn $3.70 per share for the quarter, down from their prior forecast of $3.71. Leerink Swann also issued estimates for Amgen’s FY2020 earnings at $15.73 EPS and FY2021 earnings at $16.50 EPS.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the business earned $3.27 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis.

Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Amgen from a “c+” rating to a “b-” rating in a research report on Friday, May 25th. BidaskClub upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 11th. Piper Jaffray Companies lifted their price target on shares of Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Cann reiterated a “buy” rating and issued a $224.00 price target on shares of Amgen in a research report on Monday, July 30th. Finally, Jefferies Financial Group lifted their price target on shares of Amgen from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Amgen currently has an average rating of “Hold” and a consensus price target of $202.76.

NASDAQ AMGN opened at $197.31 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.39 and a quick ratio of 3.12. Amgen has a 1-year low of $163.31 and a 1-year high of $201.23. The company has a market capitalization of $127.78 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.36.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pillar Pacific Capital Management LLC grew its stake in shares of Amgen by 0.5% during the second quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock worth $10,461,000 after buying an additional 254 shares during the last quarter. Fairfield Bush & CO. grew its stake in shares of Amgen by 0.8% in the second quarter. Fairfield Bush & CO. now owns 33,934 shares of the medical research company’s stock worth $6,264,000 after purchasing an additional 260 shares during the last quarter. Advisors Capital Management LLC grew its stake in shares of Amgen by 5.8% in the second quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock worth $874,000 after purchasing an additional 261 shares during the last quarter. Highland Capital Management LLC grew its stake in shares of Amgen by 1.0% in the second quarter. Highland Capital Management LLC now owns 27,457 shares of the medical research company’s stock worth $5,068,000 after purchasing an additional 262 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in shares of Amgen by 5.8% in the second quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock worth $889,000 after purchasing an additional 265 shares during the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $195.71, for a total transaction of $298,457.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 17th will be given a dividend of $1.32 per share. The ex-dividend date is Thursday, August 16th. This represents a $5.28 annualized dividend and a yield of 2.68%. Amgen’s dividend payout ratio is currently 41.97%.

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, 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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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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