FY2024 Earnings Estimate for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for shares of Amgen in a research report issued on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now expects that the medical research company will earn $19.49 per share for the year, down from their prior estimate of $19.53. The consensus estimate for Amgen’s current full-year earnings is $19.51 per share. Leerink Partnrs also issued estimates for Amgen’s FY2026 earnings at $19.93 EPS and FY2027 earnings at $19.91 EPS.

A number of other research analysts also recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Redburn Partners decreased their target price on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Stock Performance

Shares of AMGN stock opened at $278.10 on Monday. The company’s 50 day moving average is $311.37 and its 200 day moving average is $317.16. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market cap of $149.49 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.52 and a beta of 0.60. Amgen has a 52-week low of $257.80 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.24%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Institutional Investors Weigh In On Amgen

Several hedge funds have recently added to or reduced their stakes in the business. Old North State Trust LLC lifted its holdings in shares of Amgen by 6.7% in the 3rd quarter. Old North State Trust LLC now owns 1,666 shares of the medical research company’s stock valued at $537,000 after buying an additional 104 shares during the period. Franklin Resources Inc. lifted its holdings in Amgen by 3.7% in the third quarter. Franklin Resources Inc. now owns 2,156,091 shares of the medical research company’s stock valued at $699,910,000 after acquiring an additional 76,798 shares during the period. Asset Advisors Investment Management LLC boosted its position in Amgen by 9.0% in the 3rd 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 in the last quarter. Synovus Financial Corp grew its stake in shares of Amgen by 3.2% during the 3rd quarter. Synovus Financial Corp now owns 65,564 shares of the medical research company’s stock worth $21,124,000 after purchasing an additional 2,046 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Amgen by 2.7% during the 3rd quarter. Tidal Investments LLC now owns 24,480 shares of the medical research company’s stock valued at $7,888,000 after purchasing an additional 646 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.