Leerink Partnrs Brokers Reduce Earnings Estimates for Amgen

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Partnrs lowered their Q4 2024 earnings estimates for Amgen in a research report issued on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $4.97 for the quarter, down from their previous forecast of $5.01. The consensus estimate for Amgen’s current full-year earnings is $19.52 per share. Leerink Partnrs also issued estimates for Amgen’s FY2025 earnings at $20.33 EPS and FY2028 earnings at $19.41 EPS.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $4.96 EPS.

A number of other equities analysts have also recently commented on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Redburn Partners reduced their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Finally, Truist Financial cut Amgen from a “buy” rating to a “hold” rating and increased their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Trading Up 0.0 %

Shares of NASDAQ AMGN opened at $280.07 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $150.55 billion, a PE ratio of 35.86, a PEG ratio of 2.62 and a beta of 0.60. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. The stock has a fifty day simple moving average of $312.46 and a 200-day simple moving average of $317.31.

Hedge Funds Weigh In On Amgen

Several large investors have recently bought and sold shares of the stock. Keynote Financial Services LLC raised its position in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after acquiring an additional 30 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after purchasing an additional 31 shares in the last quarter. Hofer & Associates. Inc lifted its stake in Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Cadinha & Co. LLC boosted its holdings in Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares in the last quarter. Finally, Lansing Street Advisors grew its position in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.21%. Amgen’s dividend payout ratio is currently 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.