William Blair Forecasts Amgen’s Q4 Earnings (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – William Blair reduced their Q4 2024 earnings estimates for shares of Amgen in a research note issued on Wednesday, October 30th. William Blair analyst M. Phipps now anticipates that the medical research company will earn $5.12 per share for the quarter, down from their prior forecast of $5.65. The consensus estimate for Amgen’s current full-year earnings is $19.45 per share. William Blair also issued estimates for Amgen’s Q2 2025 earnings at $5.58 EPS, Q3 2025 earnings at $5.95 EPS, Q4 2025 earnings at $4.25 EPS, FY2026 earnings at $19.80 EPS, FY2027 earnings at $20.51 EPS and FY2028 earnings at $20.80 EPS.

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

Several other research analysts also recently weighed in on AMGN. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Bank of America upped their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Trading Down 0.7 %

Shares of AMGN opened at $316.91 on Monday. The stock’s 50-day moving average is $324.27 and its two-hundred day moving average is $316.29. The stock has a market cap of $170.29 billion, a PE ratio of 40.58, a P/E/G ratio of 2.89 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.89. Amgen has a 12 month low of $260.52 and a 12 month high of $346.85.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMGN. Meyer Handelman Co. boosted its position in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Amgen in the second quarter valued at approximately $3,354,000. Verity & Verity LLC grew its stake in shares of Amgen by 2.7% in the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its position in Amgen by 9.3% during the second quarter. Matrix Asset Advisors Inc. NY now owns 45,068 shares of the medical research company’s stock worth $14,081,000 after acquiring an additional 3,845 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 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.