William Blair Has Optimistic Outlook of Amgen Q3 Earnings

Amgen Inc. (NASDAQ:AMGNFree Report) – Research analysts at William Blair raised their Q3 2024 earnings per share (EPS) estimates for Amgen in a report issued on Tuesday, October 15th. William Blair analyst M. Phipps now forecasts that the medical research company will post earnings of $5.02 per share for the quarter, up from their prior estimate of $4.85. The consensus estimate for Amgen’s current full-year earnings is $19.49 per share. William Blair also issued estimates for Amgen’s FY2024 earnings at $19.60 EPS, Q1 2025 earnings at $4.89 EPS, Q2 2025 earnings at $5.33 EPS, Q3 2025 earnings at $5.37 EPS, FY2027 earnings at $18.87 EPS and FY2028 earnings at $18.71 EPS.

AMGN has been the subject of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday. They set an “outperform” rating and a $380.00 target price for the company. Argus upped their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. TD Cowen boosted their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.48.

Check Out Our Latest Research Report on AMGN

Amgen Trading Up 0.1 %

Shares of AMGN stock opened at $321.66 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company has a market cap of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The stock has a 50 day simple moving average of $326.07 and a 200-day simple moving average of $311.90. Amgen has a 1-year low of $249.70 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the previous year, the firm posted $5.00 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC lifted its stake in Amgen by 0.7% during the third quarter. Resonant Capital Advisors LLC now owns 12,222 shares of the medical research company’s stock worth $3,938,000 after purchasing an additional 89 shares during the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in Amgen by 0.6% during the third quarter. Wealth Alliance Advisory Group LLC now owns 6,573 shares of the medical research company’s stock worth $2,118,000 after purchasing an additional 38 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its stake in Amgen by 7.1% during the third quarter. Warren Street Wealth Advisors LLC now owns 767 shares of the medical research company’s stock worth $247,000 after purchasing an additional 51 shares during the last quarter. Whitaker Myers Wealth Managers LTD. purchased a new stake in Amgen during the third quarter worth approximately $307,000. Finally, E&G Advisors LP lifted its stake in Amgen by 8.8% during the third quarter. E&G Advisors LP now owns 2,472 shares of the medical research company’s stock worth $797,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Amgen Company Profile

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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.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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