William Blair Comments on Amgen Inc.’s Q2 2022 Earnings (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGNGet Rating) – Stock analysts at William Blair lifted their Q2 2022 EPS estimates for Amgen in a note issued to investors on Monday, April 18th. William Blair analyst M. Phipps now forecasts that the medical research company will earn $4.60 per share for the quarter, up from their prior estimate of $4.47. William Blair also issued estimates for Amgen’s Q3 2022 earnings at $4.91 EPS, Q4 2022 earnings at $4.09 EPS, FY2022 earnings at $17.86 EPS and FY2023 earnings at $19.25 EPS.

A number of other analysts have also recently issued reports on AMGN. Barclays boosted their target price on Amgen from $233.00 to $236.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Royal Bank of Canada boosted their price target on Amgen from $216.00 to $218.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 21st. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 5th. Mizuho boosted their price target on Amgen from $194.00 to $202.00 in a research report on Tuesday, March 1st. Finally, Bank of America lowered Amgen from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $285.00 to $255.00 in a research report on Wednesday, January 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $235.24.

Shares of NASDAQ:AMGN opened at $251.93 on Tuesday. The company has a debt-to-equity ratio of 4.96, a quick ratio of 1.26 and a current ratio of 1.59. Amgen has a 1 year low of $198.64 and a 1 year high of $261.00. The stock has a market capitalization of $134.48 billion, a P/E ratio of 24.44, a PEG ratio of 1.52 and a beta of 0.59. The stock has a 50-day simple moving average of $235.32 and a 200-day simple moving average of $222.95.

Amgen (NASDAQ:AMGNGet Rating) last issued its earnings results on Monday, February 7th. The medical research company reported $4.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.14 by $0.22. Amgen had a return on equity of 120.59% and a net margin of 22.68%. The business had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter in the previous year, the business earned $3.81 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Investors of record on Tuesday, May 17th will be paid a dividend of $1.94 per share. The ex-dividend date is Monday, May 16th. This represents a $7.76 dividend on an annualized basis and a yield of 3.08%. Amgen’s payout ratio is currently 75.27%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Amgen by 2.1% during the 4th quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock worth $11,258,926,000 after buying an additional 1,032,929 shares during the last quarter. State Street Corp grew its stake in Amgen by 1.7% during the 4th quarter. State Street Corp now owns 30,147,007 shares of the medical research company’s stock worth $6,782,172,000 after buying an additional 505,306 shares during the last quarter. Geode Capital Management LLC grew its stake in Amgen by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 10,362,110 shares of the medical research company’s stock worth $2,198,289,000 after buying an additional 367,936 shares during the last quarter. Morgan Stanley grew its stake in Amgen by 0.8% during the 2nd quarter. Morgan Stanley now owns 10,040,932 shares of the medical research company’s stock worth $2,447,476,000 after buying an additional 80,922 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Amgen by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,725,125 shares of the medical research company’s stock worth $1,962,892,000 after purchasing an additional 561,955 shares in the last quarter. Hedge funds and other institutional investors own 74.53% of the company’s stock.

Amgen Company Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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