Amgen, Inc. (NASDAQ:AMGN) – Equities research analysts at Piper Jaffray Companies boosted their Q3 2018 EPS estimates for Amgen in a research report issued to clients and investors on Wednesday, October 17th, Zacks Investment Research reports. Piper Jaffray Companies analyst C. Raymond now forecasts that the medical research company will post earnings of $3.47 per share for the quarter, up from their prior estimate of $3.40. Piper Jaffray Companies currently has a “Overweight” rating and a $210.00 target price on the stock. Piper Jaffray Companies also issued estimates for Amgen’s FY2018 earnings at $14.02 EPS.
A number of other analysts also recently weighed in on the stock. Cann reissued a “buy” rating and set a $224.00 target price on shares of Amgen in a research report on Monday, October 1st. Royal Bank of Canada reaffirmed a “neutral” rating and set a $193.00 price objective on shares of Amgen in a research report on Monday, September 10th. Oppenheimer reaffirmed a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Tuesday, August 28th. Goldman Sachs Group reaffirmed a “buy” rating and set a $229.00 price objective on shares of Amgen in a research report on Friday, October 12th. Finally, Jefferies Financial Group set a $220.00 price objective on shares of Amgen and gave the stock a “buy” rating in a research report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $204.55.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, November 15th. Amgen’s dividend payout ratio is currently 41.97%.
Several institutional investors and hedge funds have recently modified their holdings of AMGN. Kwmg LLC bought a new position in Amgen during the 2nd quarter valued at $108,000. Mainstay Capital Management LLC ADV bought a new position in Amgen during the 2nd quarter valued at $111,000. Braun Bostich & Associates Inc. bought a new position in Amgen during the 1st quarter valued at $113,000. WealthTrust Fairport LLC bought a new position in Amgen during the 1st quarter valued at $121,000. Finally, Polaris Greystone Financial Group LLC bought a new position in Amgen during the 3rd quarter valued at $166,000. Institutional investors own 82.37% of the company’s stock.
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, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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