William Blair Has Optimistic Outlook of Amgen Q3 Earnings

Amgen Inc. (NASDAQ:AMGN - Free Report) - Research analysts at William Blair raised their Q3 2024 earnings per share (EPS) estimates for Amgen in a research report issued on Tuesday, October 15th. William Blair analyst M. Phipps now anticipates that the medical research company will earn $5.02 per share for the quarter, up from their prior forecast of $4.85. The consensus estimate for Amgen's current full-year earnings is $19.49 per share. William Blair also issued estimates for Amgen's FY2024 earnings at $19.60 EPS, Q1 2025 earnings at $4.89 EPS, Q2 2025 earnings at $5.33 EPS, Q3 2025 earnings at $5.37 EPS, FY2027 earnings at $18.87 EPS and FY2028 earnings at $18.71 EPS.

AMGN has been the subject of a number of other research reports. Jefferies Financial Group reissued a "buy" rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer restated an "outperform" rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Sanford C. Bernstein started coverage on shares of Amgen in a report on Thursday. They set an "outperform" rating and a $380.00 price target for the company. Cantor Fitzgerald assumed coverage on Amgen in a report on Friday, September 27th. They set an "overweight" rating and a $405.00 price objective on the stock. Finally, Dbs Bank raised Amgen to a "strong-buy" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $329.48.

Amgen Price Performance

NASDAQ:AMGN traded up $0.33 during trading hours on Friday, hitting $321.66. The company's stock had a trading volume of 1,552,060 shares, compared to its average volume of 2,447,665. Amgen has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a fifty day simple moving average of $326.07 and a 200-day simple moving average of $311.90. The company has a market capitalization of $172.55 billion, a P/E ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts' consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.00 EPS.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.80%. Amgen's dividend payout ratio is currently 128.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company's stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors increased its position in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company's stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company's stock worth $844,137,000 after acquiring an additional 162,223 shares during the last quarter. Janus Henderson Group PLC lifted its position in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company's stock valued at $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Boston Partners boosted its stake in Amgen by 27.4% during the 1st quarter. Boston Partners now owns 2,237,334 shares of the medical research company's stock valued at $635,179,000 after purchasing an additional 481,214 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.