William Blair Has Pessimistic View of Amgen FY2024 Earnings

Amgen Inc. (NASDAQ:AMGN) – Research analysts at William Blair lowered their FY2024 EPS estimates for shares of Amgen in a research report issued to clients and investors on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the medical research company will earn $19.56 per share for the year, down from their previous estimate of $19.62. William Blair has a “Outperform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.57 per share.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. TD Cowen boosted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. UBS Group cut their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $273.44 on Thursday. The firm has a market capitalization of $146.98 billion, a PE ratio of 35.01, a P/E/G ratio of 2.79 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen has a 1 year low of $253.30 and a 1 year high of $346.85. The business’s 50 day moving average price is $271.91 and its 200-day moving average price is $306.43.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.96 earnings per share.

Hedge Funds Weigh In On Amgen

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter valued at $30,000. Matrix Trust Co purchased a new stake in Amgen during the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the third quarter valued at approximately $56,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.48%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.