Erste Group Bank Brokers Lower Earnings Estimates for Amgen

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at Erste Group Bank dropped their FY2027 EPS estimates for Amgen in a note issued to investors on Friday, September 18th. Erste Group Bank analyst H. Engel now forecasts that the medical research company will post earnings per share of $24.36 for the year, down from their previous estimate of $24.43. The consensus estimate for Amgen’s current full-year earnings is $22.94 per share.

Other analysts have also issued reports about the company. The Goldman Sachs Group set a $389.00 price objective on Amgen in a report on Friday, June 5th. Citigroup increased their target price on Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. UBS Group reissued a “buy” rating and issued a $430.00 price target on shares of Amgen in a report on Thursday. Argus upped their price objective on shares of Amgen from $375.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, BMO Capital Markets downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and set a $450.00 price objective on the stock. in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $381.32.

Amgen Price Performance

Shares of Amgen stock opened at $393.16 on Tuesday. The firm has a market cap of $212.55 billion, a PE ratio of 24.44, a P/E/G ratio of 2.78 and a beta of 0.43. Amgen has a twelve month low of $269.77 and a twelve month high of $447.03. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The business has a 50-day moving average price of $402.42 and a 200 day moving average price of $367.80.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the firm posted $6.02 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently modified their holdings of the company. Premier Financial Group purchased a new position in Amgen during the second quarter worth about $139,000. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $36,000. Wellington Altus USA Inc. increased its holdings in shares of Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. U S Wealth Group LLC. raised its position in shares of Amgen by 12.4% during the 2nd quarter. U S Wealth Group LLC. now owns 9,222 shares of the medical research company’s stock valued at $3,340,000 after buying an additional 1,018 shares during the period. Finally, Bouchey Financial Group Ltd. raised its position in shares of Amgen by 6.2% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,938 shares of the medical research company’s stock valued at $702,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 21st. Amgen’s dividend payout ratio (DPR) is 62.65%.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.