Leerink Swann Analysts Decrease Earnings Estimates for Amgen, Inc. (AMGN)

Amgen, Inc. (NASDAQ:AMGN) – Leerink Swann lowered their Q4 2017 earnings per share (EPS) estimates for shares of Amgen in a research note issued on Thursday. Leerink Swann analyst G. Porges now expects that the medical research company will post earnings per share of $2.90 for the quarter, down from their previous forecast of $2.93. Leerink Swann also issued estimates for Amgen’s Q1 2018 earnings at $3.04 EPS, Q2 2018 earnings at $3.24 EPS, Q3 2018 earnings at $3.16 EPS and Q4 2018 earnings at $3.03 EPS.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the firm earned $3.02 EPS. The company’s revenue was down .7% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. Cann reissued a “buy” rating and set a $203.00 target price on shares of Amgen in a research report on Friday, October 6th. Bank of America raised their price objective on shares of Amgen to $210.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Mizuho reaffirmed a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Jefferies Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Amgen in a report on Monday, September 25th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $203.00 price objective on shares of Amgen in a report on Friday, October 6th. Fifteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $190.15.

Amgen (NASDAQ AMGN) opened at $187.59 on Friday. Amgen has a 52-week low of $150.38 and a 52-week high of $191.10. The firm has a market cap of $136,170.00, a P/E ratio of 16.95, a PEG ratio of 2.75 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a yield of 2.81%. Amgen’s dividend payout ratio is currently 41.55%.

Amgen announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock worth $1,508,836 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baker Ellis Asset Management LLC purchased a new stake in shares of Amgen during the 3rd quarter valued at $108,000. Jackson Grant Investment Advisers Inc. raised its position in shares of Amgen by 0.8% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Amgen during the 2nd quarter valued at $110,000. Omnia Family Wealth LLC raised its position in shares of Amgen by 25.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after buying an additional 147 shares in the last quarter. Finally, Grove Bank & Trust raised its position in shares of Amgen by 87.4% during the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after buying an additional 341 shares in the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.

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About Amgen

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).

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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