Amgen, Inc. (NASDAQ:AMGN) – Research analysts at Piper Jaffray Companies boosted their Q3 2019 earnings per share (EPS) estimates for Amgen in a research report issued to clients and investors on Thursday, October 17th. Piper Jaffray Companies analyst C. Raymond now anticipates that the medical research company will earn $3.55 per share for the quarter, up from their prior forecast of $3.52. Piper Jaffray Companies currently has a “Overweight” rating and a $218.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Amgen’s Q4 2019 earnings at $3.46 EPS, Q1 2020 earnings at $3.76 EPS and Q4 2020 earnings at $3.82 EPS.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $3.83 EPS.
Shares of NASDAQ AMGN opened at $204.83 on Monday. The company has a 50 day simple moving average of $199.08 and a 200 day simple moving average of $187.03. The firm has a market cap of $121.57 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11. Amgen has a 1 year low of $166.30 and a 1 year high of $211.90. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.83%. Amgen’s payout ratio is 40.28%.
In other news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $193.58, for a total transaction of $387,160.00. Following the sale, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,851 shares of company stock valued at $3,671,900. Company insiders own 0.25% of the company’s stock.
Several hedge funds have recently made changes to their positions in AMGN. Advisors Preferred LLC acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $30,000. Arbor Wealth Management LLC grew its position in shares of Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares during the period. Atwater Malick LLC acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $39,000. Ashburton Jersey Ltd acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $42,000. Finally, Sound Income Strategies LLC grew its position in shares of Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after buying an additional 189 shares during the period. 76.33% of the stock is owned by institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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