Amgen Inc. (NASDAQ:AMGN) - Research analysts at Jefferies Group increased their Q3 2017 earnings estimates for shares of Amgen in a report released on Tuesday. Jefferies Group analyst M. Yee now anticipates that the medical research company will post earnings per share of $3.16 for the quarter, up from their previous forecast of $3.13. Jefferies Group has a “Buy” rating and a $195.00 price objective on the stock. Jefferies Group also issued estimates for Amgen’s Q4 2017 earnings at $2.99 EPS and FY2018 earnings at $13.01 EPS.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.84 earnings per share. ILLEGAL ACTIVITY NOTICE: This article was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://stocknewstimes.com/2017/07/29/jefferies-group-weighs-in-on-amgen-inc-s-q3-2017-earnings-amgn.html.
AMGN has been the subject of a number of other reports. Deutsche Bank AG started coverage on Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 price target for the company. Credit Suisse Group restated a “hold” rating and set a $178.00 price target on shares of Amgen in a research note on Tuesday, April 4th. ValuEngine downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the company a “buy” rating in a research note on Monday, June 5th. Finally, Mizuho restated a “buy” rating and set a $195.00 price target on shares of Amgen in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $186.89.
Shares of Amgen (AMGN) opened at 174.54 on Friday. The stock has a market capitalization of $128.36 billion, a P/E ratio of 16.58 and a beta of 1.36. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The firm’s 50-day moving average is $172.48 and its 200 day moving average is $166.30.
Several hedge funds have recently modified their holdings of the company. TrimTabs Asset Management LLC boosted its stake in shares of Amgen by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in shares of Amgen by 19.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares during the period. American Beacon Advisors Inc. purchased a new stake in shares of Amgen during the first quarter valued at about $106,000. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at about $102,000. 78.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total transaction of $451,156.80. Following the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 17th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.64%. Amgen’s dividend payout ratio (DPR) is 41.93%.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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