William Blair Analysts Reduce Earnings Estimates for Amgen Inc. (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGNGet Rating) – Stock analysts at William Blair decreased their Q4 2022 earnings per share (EPS) estimates for Amgen in a note issued to investors on Monday, January 23rd. William Blair analyst M. Phipps now forecasts that the medical research company will post earnings per share of $4.16 for the quarter, down from their previous forecast of $4.17. The consensus estimate for Amgen’s current full-year earnings is $17.62 per share. William Blair also issued estimates for Amgen’s FY2026 earnings at $18.88 EPS.

Other research analysts have also recently issued research reports about the company. Truist Financial raised their target price on Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a research note on Tuesday, November 8th. Morgan Stanley raised their target price on Amgen from $279.00 to $282.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. Royal Bank of Canada increased their price target on Amgen from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, November 4th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 17th. Finally, Piper Sandler decreased their price target on Amgen from $299.00 to $293.00 and set an “overweight” rating for the company in a research report on Thursday, January 19th. Four analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.57.

Amgen Trading Down 0.5 %

Shares of AMGN stock opened at $259.70 on Wednesday. The stock has a 50-day simple moving average of $273.21 and a 200 day simple moving average of $257.04. Amgen has a fifty-two week low of $214.39 and a fifty-two week high of $296.67. The stock has a market capitalization of $138.57 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.87 and a beta of 0.67. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17.

Amgen (NASDAQ:AMGNGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.27. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a return on equity of 287.23% and a net margin of 25.96%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $4.67 earnings per share.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be given a dividend of $2.13 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $1.94. This represents a $8.52 dividend on an annualized basis and a yield of 3.28%. Amgen’s dividend payout ratio (DPR) is presently 62.23%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 545 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares in the company, valued at approximately $3,818,661.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Vanguard Group Inc. raised its stake in shares of Amgen by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 47,459,511 shares of the medical research company’s stock valued at $10,697,373,000 after acquiring an additional 1,310,894 shares in the last quarter. FMR LLC grew its holdings in Amgen by 24.9% in the 2nd quarter. FMR LLC now owns 8,911,384 shares of the medical research company’s stock valued at $2,168,140,000 after buying an additional 1,774,223 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amgen by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after buying an additional 94,565 shares during the last quarter. Royal Bank of Canada grew its holdings in Amgen by 1.3% in the 3rd quarter. Royal Bank of Canada now owns 6,097,683 shares of the medical research company’s stock valued at $1,374,419,000 after buying an additional 75,721 shares during the last quarter. Finally, State Farm Mutual Automobile Insurance Co. grew its holdings in Amgen by 1.4% in the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 2,779,471 shares of the medical research company’s stock valued at $676,245,000 after buying an additional 37,200 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

(Get Rating)

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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