Amgen Inc. (NASDAQ: AMGN – Get Rating) – Equities research analysts at William Blair boosted their Q2 2023 earnings per share estimates for Amgen in a research report issued to clients and investors on Tuesday, June 7th. William Blair analyst M. Phipps now expects that the medical research company will post earnings of $ 4.97 per share for the quarter, up from their prior forecast of $ 4.71. William Blair also issued estimates for Amgen’s Q3 2023 earnings at $ 5.04 EPS and Q4 2023 earnings at $ 4.13 EPS.
Amgen (NASDAQ: AMGN – Get Rating) last issued its earnings results on Wednesday, April 27th. The medical research company reported $ 4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $ 4.22 by $ 0.03. The company had revenue of $ 6.24 billion for the quarter, compared to analysts’ expectations of $ 6.09 billion. Amgen had a net margin of 21.75% and a return on equity of 165.95%. During the same period in the prior year, the company earned $ 3.70 earnings per share.
Several other research analysts have also recently commented on the stock. SVB Leerink initiated coverage on shares of Amgen in a report on Monday, May 23rd. They issued a “market perform” rating and a $ 256.00 target price for the company. TheStreet lowered shares of Amgen from a “b +” rating to a “c +” rating in a research report on Wednesday, April 27th. Mizuho increased their price target on shares of Amgen from $ 202.00 to $ 208.00 in a research report on Tuesday, May 10th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 16th. Finally, Morgan Stanley cut their price objective on shares of Amgen from $ 238.00 to $ 237.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $ 243.40.
AMGN stock opened at $ 241.75 on Thursday. The firm’s 50-day simple moving average is $ 246.90 and its 200 day simple moving average is $ 232.57. The stock has a market cap of $ 129.14 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 2.11 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 39.31. Amgen has a fifty-two week low of $ 198.64 and a fifty-two week high of $ 258.45.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Amgen by 2.1% in the 4th quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company stock valued at $ 11,258,926,000 after purchasing an additional 1,032,929 shares during the period. Vanguard Group Inc. grew its position in shares of Amgen by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 47,329,045 shares of the medical research company stock valued at $ 11,445,110,000 after purchasing an additional 668,036 shares during the period. State Street Corp boosted its position in Amgen by 1.2% during the 1st quarter. State Street Corp now owns 30,504,420 shares of the medical research company stock worth $ 7,376,579,000 after acquiring an additional 357,413 shares during the last quarter. Morgan Stanley boosted its position in Amgen by 0.8% during the 2nd quarter. Morgan Stanley now owns 10,040,932 shares of the medical research company stock worth $ 2,447,476,000 after acquiring an additional 80,922 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Amgen by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company stock worth $ 2,132,778,000 after acquiring an additional 94,565 shares during the last quarter. Institutional investors and hedge funds own 79.01% of the company stock.
In other Amgen news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $ 241.81, for a total transaction of $ 3,264,435.00. Following the completion of the sale, the executive vice president now directly owns 37,333 shares of the company stock, valued at approximately $ 9,027,492.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 600 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $ 250.00, for a total value of $ 150,000.00. Following the transaction, the director now owns 5,501 shares of the company stock, valued at $ 1,375,250. The disclosure for this sale can be found here. Insiders own 0.46% of the company stock.
About Amgen: (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 products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due to a low white blood cell count in cancer patients; 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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