Q1 2024 Earnings Forecast for Amgen Inc. (NASDAQ:AMGN) Issued By William Blair

Amgen Inc. (NASDAQ:AMGNFree Report) – Research analysts at William Blair dropped their Q1 2024 EPS estimates for shares of Amgen in a research report issued on Wednesday, February 7th. William Blair analyst M. Phipps now expects that the medical research company will earn $3.68 per share for the quarter, down from their previous forecast of $4.71. The consensus estimate for Amgen’s current full-year earnings is $19.81 per share. William Blair also issued estimates for Amgen’s Q2 2024 earnings at $4.78 EPS, Q4 2024 earnings at $5.59 EPS, FY2024 earnings at $19.00 EPS, FY2025 earnings at $19.09 EPS, FY2026 earnings at $17.05 EPS and FY2027 earnings at $17.90 EPS.

A number of other research firms have also recently weighed in on AMGN. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $324.00 to $318.00 in a report on Wednesday. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and raised their price target for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Truist Financial restated a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Wednesday, November 29th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $295.30.

Check Out Our Latest Stock Report on AMGN

Amgen Stock Down 0.3 %

NASDAQ:AMGN opened at $294.85 on Friday. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The stock has a market capitalization of $157.80 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 7.71, a quick ratio of 2.56 and a current ratio of 2.86. The company’s 50-day simple moving average is $294.92 and its 200-day simple moving average is $273.81.

Amgen (NASDAQ:AMGNGet Free Report) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 152.15%. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the business earned $4.09 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Amgen in the 3rd quarter valued at $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen in the 3rd quarter valued at $26,000. IAG Wealth Partners LLC grew its stake in Amgen by 520.0% in the 2nd quarter. IAG Wealth Partners LLC now owns 124 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in Amgen in the 2nd quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Amgen in the 1st quarter valued at $28,000. 74.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,096 shares of Amgen stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the transaction, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.05%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date is Thursday, February 15th. Amgen’s payout ratio is 68.21%.

About Amgen

(Get Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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