FY2024 Earnings Estimate for Amgen Issued By Leerink Partnrs

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Leerink Partnrs dropped their FY2024 earnings estimates for Amgen in a note issued to investors on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now expects that the medical research company will post earnings of $19.49 per share for the year, down from their prior forecast 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 firms have also weighed in on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, TD Cowen boosted their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Stock Up 1.0 %

AMGN stock opened at $282.87 on Monday. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. The firm has a market capitalization of $152.05 billion, a PE ratio of 36.22, a PEG ratio of 2.52 and a beta of 0.60. 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 stock has a 50-day simple moving average of $311.37 and a two-hundred day simple moving average of $317.16.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis.

Hedge Funds Weigh In On Amgen

A number of hedge funds and other institutional investors have recently made changes to their positions in AMGN. Keynote Financial Services LLC increased its position in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after purchasing an additional 30 shares during the period. Ascent Group LLC increased its position in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the period. Hofer & Associates. Inc raised its stake in Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares in the last quarter. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares during the period. Finally, Lansing Street Advisors boosted its position in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after acquiring an additional 32 shares in the last quarter. Institutional investors 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 issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.18%. Amgen’s dividend payout ratio 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.