Q1 2024 EPS Estimates for Amgen Inc. Decreased by William Blair (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at William Blair reduced their Q1 2024 EPS estimates for shares of Amgen in a research report issued on Wednesday, April 17th. William Blair analyst M. Phipps now expects that the medical research company will post earnings of $3.64 per share for the quarter, down from their previous estimate of $3.68. The consensus estimate for Amgen’s current full-year earnings is $19.46 per share. William Blair also issued estimates for Amgen’s FY2024 earnings at $18.85 EPS.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the prior year, the company posted $4.09 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis.

AMGN has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Oppenheimer reiterated an “outperform” rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and increased their price target for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Raymond James started coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Finally, Morgan Stanley lowered their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Performance

Shares of AMGN stock opened at $262.75 on Thursday. The stock has a market cap of $140.81 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.47 and a beta of 0.58. The stock has a 50-day moving average of $277.34 and a 200-day moving average of $281.24. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen has a one year low of $211.71 and a one year high of $329.72.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

Institutional Trading of Amgen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Morgan Stanley increased its position in Amgen by 12.9% during the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Amgen by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after buying an additional 94,565 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in Amgen by 83,875.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after buying an additional 7,532,031 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Amgen by 3.8% in the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after buying an additional 255,463 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Company Profile

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.