FY2017 EPS Estimates for Amgen, Inc. Cut by Analyst (AMGN)
Amgen, Inc. (NASDAQ:AMGN) – Equities researchers at Leerink Swann reduced their FY2017 earnings estimates for shares of Amgen in a research note issued on Thursday. Leerink Swann analyst G. Porges now expects that the medical research company will post earnings of $12.59 per share for the year, down from their previous estimate of $12.62.
Other equities research analysts also recently issued reports about the company. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Vetr downgraded Amgen from a “buy” rating to a “hold” rating and set a $184.25 price objective for the company. in a report on Wednesday, January 3rd. Piper Jaffray Companies reissued a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Finally, Mizuho set a $192.00 price objective on Amgen and gave the company a “buy” rating in a report on Thursday, December 28th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $190.15.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.02 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.75%. Amgen’s dividend payout ratio (DPR) is currently 41.55%.
Amgen announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The disclosure for this sale can be found here. In the last three months, insiders sold 8,575 shares of company stock valued at $1,508,836. 0.19% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Welch Group LLC purchased a new stake in Amgen during the 2nd quarter worth about $639,000. DekaBank Deutsche Girozentrale increased its position in Amgen by 2.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock worth $152,927,000 after purchasing an additional 24,219 shares in the last quarter. Pacer Advisors Inc. increased its position in Amgen by 10.3% during the 2nd quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock worth $4,371,000 after purchasing an additional 2,362 shares in the last quarter. Wesbanco Bank Inc. increased its position in Amgen by 6.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock worth $18,393,000 after purchasing an additional 6,492 shares in the last quarter. Finally, Coho Partners Ltd. increased its position in Amgen by 25.8% during the 2nd quarter. Coho Partners Ltd. now owns 1,034,651 shares of the medical research company’s stock worth $178,198,000 after purchasing an additional 212,213 shares in the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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