Q3 2024 EPS Estimates for Amgen Inc. Decreased by Analyst (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Research analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Amgen in a report released on Tuesday, August 27th. Zacks Research analyst R. Department now expects that the medical research company will post earnings of $4.83 per share for the quarter, down from their previous estimate of $5.09. The consensus estimate for Amgen’s current full-year earnings is $19.50 per share. Zacks Research also issued estimates for Amgen’s Q4 2024 earnings at $5.40 EPS, FY2024 earnings at $19.16 EPS, Q1 2025 earnings at $4.79 EPS, Q3 2025 earnings at $5.18 EPS, Q4 2025 earnings at $5.43 EPS, Q1 2026 earnings at $4.86 EPS, Q2 2026 earnings at $5.23 EPS and FY2026 earnings at $20.80 EPS.

AMGN has been the topic of several other reports. BMO Capital Markets upped their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Bank of America increased their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $326.89.

Amgen Stock Performance

NASDAQ:AMGN opened at $329.49 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen has a fifty-two week low of $248.38 and a fifty-two week high of $346.85. The firm’s fifty day simple moving average is $323.59 and its 200-day simple moving average is $300.01. The stock has a market cap of $176.75 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the company earned $5.00 EPS. The company’s revenue was up 20.1% on a year-over-year basis.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.73%. Amgen’s payout ratio is 128.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMGN. Strategic Financial Concepts LLC acquired a new stake in Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $28,000. United Community Bank acquired a new position in Amgen during the 4th quarter worth approximately $29,000. Delos Wealth Advisors LLC boosted its holdings in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Finally, Hershey Financial Advisers LLC acquired a new stake in Amgen in the second quarter valued at approximately $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

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.