FY2024 Earnings Estimate for Amgen Issued By Leerink Partnrs

by · The Markets Daily

Amgen Inc. (NASDAQ:AMGN – Free Report) – Stock analysts at Leerink Partnrs dropped their FY2024 EPS estimates for Amgen in a note issued to investors on Wednesday, November 27th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $19.49 for the year, down from their previous estimate 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.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 EPS.

AMGN has been the subject of a number of other research reports. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Redburn Partners cut their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Citigroup decreased their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $323.05.

Get Our Latest Stock Analysis on Amgen

Amgen Price Performance

Shares of NASDAQ AMGN opened at $278.32 on Monday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a fifty day moving average of $309.17 and a 200 day moving average of $316.66. The firm has a market cap of $149.61 billion, a PE ratio of 35.64, a PEG ratio of 3.08 and a beta of 0.55. Amgen has a one year low of $257.80 and a one year high of $346.85.

Institutional Trading of Amgen

Hedge funds have recently made changes to their positions in the business. Pathway Financial Advisers LLC boosted its position 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 buying an additional 4,446,757 shares during the period. International Assets Investment Management LLC boosted its holdings in 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 during the period. Assenagon Asset Management S.A. grew its stake in Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC increased its holdings in Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the period. Finally, Janus Henderson Group PLC raised its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 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. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Amgen Company Profile

(Get Free Report)

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.

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