FY2024 Earnings Estimate for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Analysts at Leerink Partnrs boosted their FY2024 earnings estimates for shares of Amgen in a report issued on Wednesday, October 30th. Leerink Partnrs analyst D. Risinger now expects that the medical research company will earn $19.53 per share for the year, up from their previous estimate of $19.27. The consensus estimate for Amgen’s current full-year earnings is $19.49 per share. Leerink Partnrs also issued estimates for Amgen’s Q4 2024 earnings at $5.01 EPS and FY2028 earnings at $19.64 EPS.

Several other brokerages also recently weighed in on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Jefferies Financial Group reissued 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. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $319.29 on Monday. The stock has a market capitalization of $171.56 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 2.81 and a beta of 0.60. Amgen has a one year low of $260.52 and a one year high of $346.85. The company has a 50-day simple moving average of $324.12 and a 200-day simple moving average of $316.64. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

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

Hedge Funds Weigh In On Amgen

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors increased its stake in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC raised its holdings in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 yield of 2.82%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.