William Blair Issues Negative Estimate for Amgen Earnings

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at William Blair decreased their Q4 2024 earnings per share (EPS) estimates for shares of Amgen in a research note issued on Tuesday, January 21st. William Blair analyst M. Phipps now anticipates that the medical research company will post earnings per share of $5.05 for the quarter, down from their prior forecast of $5.12. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.57 per share. William Blair also issued estimates for Amgen’s FY2025 earnings at $21.34 EPS.

Other equities research analysts have also issued reports about the company. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Citigroup reduced their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $314.91.

Amgen Stock Performance

Shares of Amgen stock opened at $273.44 on Wednesday. The company has a market cap of $146.98 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50 day moving average price of $272.47 and a 200-day moving average price of $306.67.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Talbot Financial LLC grew its position in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after buying an additional 2,274 shares in the last quarter. Swiss National Bank grew its holdings in shares of Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC increased its position in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. raised its stake in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.48%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

About Amgen

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.