Amgen – Piper Sandler Equities Analysts Reduce Earnings Estimates for Amgen Inc. (NASDAQ:AMGN)
Amgen Inc. (NASDAQ:AMGN) – Analysts at Piper Sandler dropped their FY2020 earnings estimates for Amgen in a research report issued on Friday, January 29th. Piper Sandler analyst C. Raymond now anticipates that the medical research company will post earnings per share of $16.28 for the year, down from their previous estimate of $16.35. Piper Sandler currently has a “Overweight” rating and a $280.00 target price on the stock. Piper Sandler also issued estimates for Amgen’s Q4 2020 earnings at $3.48 EPS, Q1 2021 earnings at $4.08 EPS, Q2 2021 earnings at $4.79 EPS, Q3 2021 earnings at $4.51 EPS, Q4 2021 earnings at $4.38 EPS, FY2021 earnings at $17.75 EPS, FY2022 earnings at $18.62 EPS, FY2023 earnings at $19.65 EPS, FY2024 earnings at $20.92 EPS and FY2025 earnings at $22.15 EPS.
Several other brokerages also recently issued reports on AMGN. Raymond James raised Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 target price on the stock in a research note on Monday, October 26th. Morgan Stanley lifted their price objective on shares of Amgen from $276.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, January 19th. Mizuho lowered their target price on shares of Amgen from $260.00 to $215.00 and set a “neutral” rating on the stock in a report on Monday, November 2nd. Truist upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Monday, October 12th. Finally, BMO Capital Markets decreased their price target on shares of Amgen from $308.00 to $304.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $257.38.
Shares of Amgen stock opened at $241.43 on Monday. The company has a market capitalization of $140.55 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The stock’s 50-day simple moving average is $235.71 and its 200-day simple moving average is $238.42. Amgen has a 52 week low of $177.05 and a 52 week high of $276.69.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 8th. Stockholders of record on Monday, February 15th will be paid a dividend of $1.76 per share. This is a positive change from Amgen’s previous quarterly dividend of $1.60. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, February 11th. Amgen’s payout ratio is currently 43.18%.
In related news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $242.40, for a total value of $60,600.00. Following the completion of the sale, the director now directly owns 4,909 shares of the company’s stock, valued at $1,189,941.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of $235.99, for a total transaction of $235,990.00. Following the transaction, the director now owns 16,805 shares in the company, valued at $3,965,811.95. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Advisory Alpha LLC bought a new stake in Amgen during the 3rd quarter valued at $25,000. JFG Wealth Management LLC bought a new stake in Amgen during the third quarter valued at about $28,000. Norway Savings Bank purchased a new position in Amgen in the fourth quarter valued at about $29,000. Crescent Capital Consulting LLC purchased a new position in shares of Amgen in the 4th quarter worth approximately $34,000. Finally, Kinloch Capital LLC bought a new position in shares of Amgen during the 4th quarter worth approximately $40,000. 75.23% of the stock is currently owned by institutional investors.
Amgen Company Profile
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, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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