Amgen, Inc. (NASDAQ:AMGN) – Equities research analysts at William Blair boosted their FY2017 earnings per share (EPS) estimates for Amgen in a report released on Monday. William Blair analyst M. Phipps now expects that the medical research company will post earnings per share of $12.65 for the year, up from their previous forecast of $12.41. William Blair also issued estimates for Amgen’s Q4 2017 earnings at $2.96 EPS, Q1 2018 earnings at $3.27 EPS, Q2 2018 earnings at $3.08 EPS, Q3 2018 earnings at $3.18 EPS, Q4 2018 earnings at $3.13 EPS and FY2018 earnings at $12.66 EPS.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $3.02 EPS.
Shares of Amgen (AMGN) opened at $178.67 on Wednesday. The company has a market capitalization of $129,712.96, a P/E ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36. Amgen has a 52 week low of $138.83 and a 52 week high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Ellis Asset Management LLC bought a new position in shares of Amgen in the third quarter worth $108,000. TrimTabs Asset Management LLC boosted its holdings 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 worth $100,000 after acquiring an additional 288 shares during the period. Phocas Financial Corp. bought a new position in shares of Amgen in the second quarter worth $110,000. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares during the period. Finally, American Beacon Advisors Inc. bought a new position in shares of Amgen in the first quarter worth $106,000. 78.38% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the completion of the sale, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The disclosure for this sale can be found here. Insiders have sold 7,050 shares of company stock valued at $1,239,673 over the last ninety days. 0.19% of the stock is currently owned by company insiders.
Amgen declared that its board has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is 41.63%.
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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