Q2 2024 Earnings Estimate for Amgen Inc. (NASDAQ:AMGN) Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Investment analysts at Leerink Partnrs dropped their Q2 2024 EPS estimates for shares of Amgen in a research note issued to investors on Friday, May 3rd. Leerink Partnrs analyst D. Risinger now expects that the medical research company will earn $5.08 per share for the quarter, down from their previous estimate of $5.16. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.46 per share. Leerink Partnrs also issued estimates for Amgen’s Q3 2024 earnings at $5.33 EPS, Q4 2024 earnings at $5.14 EPS and FY2024 earnings at $19.50 EPS.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The company’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $3.98 EPS.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets boosted their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday. Finally, Raymond James began coverage on Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.05.

Amgen Price Performance

NASDAQ:AMGN opened at $311.29 on Monday. The business’s 50-day simple moving average is $274.95 and its two-hundred day simple moving average is $281.46. Amgen has a 52 week low of $211.71 and a 52 week high of $329.72. The stock has a market cap of $166.97 billion, a PE ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Institutional Trading of Amgen

Several large investors have recently bought and sold shares of AMGN. Vanguard Group Inc. lifted its position in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after acquiring an additional 165,636 shares during the period. Northern Trust Corp lifted its holdings in shares of Amgen by 3.8% during the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after buying an additional 243,720 shares during the last quarter. Royal Bank of Canada increased its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares during the period. Finally, Norges Bank purchased a new position in Amgen during the 4th quarter worth approximately $1,556,912,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen’s dividend payout ratio is presently 128.57%.

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.