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Amgen Inc. (NASDAQ:AMGN) Forecasted to Earn FY2023 Earnings of $18.86 Per Share

Defense World · Jan 27, 2023 03:56

Amgen Inc. (NASDAQ:AMGN – Get Rating) – Analysts at William Blair lifted their FY2023 earnings per share estimates for shares of Amgen in a research report issued on Monday, January 23rd. William Blair analyst M. Phipps now anticipates that the medical research company will post earnings per share of $18.86 for the year, up from their previous forecast of $18.81. The consensus estimate for Amgen's current full-year earnings is $17.62 per share. William Blair also issued estimates for Amgen's FY2024 earnings at $19.88 EPS.

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Several other analysts have also recently commented on the stock. Piper Sandler dropped their target price on shares of Amgen from $299.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, January 19th. Wells Fargo & Company increased their price target on shares of Amgen from $250.00 to $285.00 and gave the company an "equal weight" rating in a report on Tuesday, January 3rd. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Thursday. Truist Financial lifted their price objective on shares of Amgen from $266.00 to $280.00 and gave the company a "hold" rating in a research note on Tuesday, November 8th. Finally, SVB Leerink raised their target price on shares of Amgen from $256.00 to $282.00 and gave the company a "market perform" rating in a research report on Thursday, December 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $253.57.

Amgen Stock Down 0.6 %

Shares of AMGN opened at $254.88 on Thursday. The company has a market capitalization of $136.00 billion, a P/E ratio of 20.44, a PEG ratio of 1.84 and a beta of 0.67. The company has a debt-to-equity ratio of 10.17, a current ratio of 1.68 and a quick ratio of 1.35. Amgen has a one year low of $214.39 and a one year high of $296.67. The business's 50 day simple moving average is $272.67 and its 200-day simple moving average is $257.03.

Amgen (NASDAQ:AMGN – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $0.27. Amgen had a return on equity of 287.23% and a net margin of 25.96%. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company posted $4.67 earnings per share. The firm's revenue for the quarter was down .8% on a year-over-year basis.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Wednesday, February 15th will be paid a dividend of $2.13 per share. This is a positive change from Amgen's previous quarterly dividend of $1.94. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, February 14th. Amgen's payout ratio is currently 62.23%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 545 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares of the company's stock, valued at $3,818,661.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

Several hedge funds have recently modified their holdings of AMGN. Roundview Capital LLC increased its holdings in shares of Amgen by 1.3% during the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company's stock valued at $2,027,000 after acquiring an additional 107 shares in the last quarter. Merit Financial Group LLC increased its holdings in Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company's stock worth $555,000 after buying an additional 647 shares during the period. Ergoteles LLC acquired a new position in Amgen in the 1st quarter worth approximately $219,000. First Western Trust Bank acquired a new position in Amgen in the 1st quarter worth approximately $334,000. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company's stock worth $5,970,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 75.53% of the company's stock.

Amgen Company Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.