Oppenheimer Research Analysts Lift Earnings Estimates for Amgen Inc. (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at Oppenheimer increased their FY2022 earnings per share estimates for shares of Amgen in a report released on Sunday, April 4th. Oppenheimer analyst J. Olson now anticipates that the medical research company will earn $17.10 per share for the year, up from their prior estimate of $17.02.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Monday, February 1st. The medical research company reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.42. Amgen had a net margin of 29.42% and a return on equity of 95.55%. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the firm earned $3.64 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year.

Several other brokerages also recently issued reports on AMGN. The Goldman Sachs Group set a $277.00 price target on shares of Amgen and gave the company a “buy” rating in a report on Thursday, March 4th. Piper Sandler reduced their price objective on shares of Amgen from $280.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 3rd. Morgan Stanley upped their price objective on shares of Amgen from $277.00 to $279.00 and gave the company an “overweight” rating in a research note on Thursday, March 11th. Cantor Fitzgerald upped their price objective on shares of Amgen from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, February 3rd. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Amgen in a research note on Monday, January 4th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $258.57.

Shares of NASDAQ AMGN opened at $248.12 on Wednesday. Amgen has a 12-month low of $207.34 and a 12-month high of $276.69. The company has a market capitalization of $143.31 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The firm’s 50-day moving average is $237.64 and its two-hundred day moving average is $235.35.

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Amgen in the fourth quarter valued at $1,302,778,000. Morgan Stanley boosted its stake in shares of Amgen by 13.8% in the fourth quarter. Morgan Stanley now owns 9,745,556 shares of the medical research company’s stock valued at $2,240,698,000 after purchasing an additional 1,179,665 shares during the period. Boston Partners boosted its stake in shares of Amgen by 4,644.8% in the fourth quarter. Boston Partners now owns 972,579 shares of the medical research company’s stock valued at $223,616,000 after purchasing an additional 952,081 shares during the period. FIL Ltd boosted its stake in shares of Amgen by 199.4% in the fourth quarter. FIL Ltd now owns 853,277 shares of the medical research company’s stock valued at $196,185,000 after purchasing an additional 568,324 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its stake in shares of Amgen by 67.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,028,961 shares of the medical research company’s stock valued at $236,578,000 after purchasing an additional 412,976 shares during the period. 75.23% of the stock is owned by institutional investors.

In other news, Director R Sanders Williams sold 250 shares of the stock in a transaction on Monday, February 8th. The shares were sold at an average price of $237.99, for a total value of $59,497.50. Following the completion of the sale, the director now owns 4,659 shares of the company’s stock, valued at $1,108,795.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of the stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. Insiders sold 14,360 shares of company stock valued at $3,393,044 in the last three months. Company insiders own 0.36% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Monday, May 17th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, May 14th. Amgen’s payout ratio is currently 47.50%.

About Amgen

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's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; 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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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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