Amgen – Piper Sandler Weighs in on Amgen Inc.’s Q1 2021 Earnings (NASDAQ:AMGN)
Amgen Inc. (NASDAQ:AMGN) – Piper Sandler reduced their Q1 2021 earnings per share (EPS) estimates for Amgen in a research note issued on Thursday, April 1st. Piper Sandler analyst C. Raymond now expects that the medical research company will earn $3.84 per share for the quarter, down from their previous estimate of $3.85. Piper Sandler currently has a “Overweight” rating and a $260.00 target price on the stock. Piper Sandler also issued estimates for Amgen’s Q2 2021 earnings at $4.50 EPS, Q3 2021 earnings at $4.45 EPS, Q4 2021 earnings at $4.29 EPS, FY2021 earnings at $17.07 EPS and Q1 2022 earnings at $4.46 EPS. Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, February 1st. The medical research company reported $3.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.42. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.57 billion. Amgen had a return on equity of 95.55% and a net margin of 29.42%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $3.64 earnings per share.
Several other analysts have also recently commented on the stock. SVB Leerink raised their price objective on shares of Amgen from $252.00 to $260.00 and gave the company a “market perform” rating in a research note on Monday, March 8th. Barclays dropped their price objective on Amgen from $242.00 to $230.00 and set an “equal weight” rating for the company in a research note on Thursday, March 11th. Morgan Stanley boosted their target price on Amgen from $277.00 to $279.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Credit Suisse Group dropped their price target on Amgen from $280.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday, February 3rd. Finally, Cantor Fitzgerald boosted their price objective on shares of Amgen from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $258.17.
Amgen stock opened at $249.17 on Friday. The stock’s 50 day moving average price is $236.13 and its 200 day moving average price is $235.29. Amgen has a 1-year low of $194.21 and a 1-year high of $276.69. The company has a market cap of $143.91 billion, a PE ratio of 20.09, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Shareholders of record on Monday, May 17th will be paid a $1.76 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 dividend on an annualized basis and a yield of 2.83%. Amgen’s payout ratio is currently 47.50%.
In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $238.40, for a total value of $238,400.00. Following the completion of the sale, the director now directly owns 16,805 shares in the company, valued at $4,006,312. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan P. Graham sold 11,110 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total value of $2,627,626.10. The disclosure for this sale can be found here. Insiders have sold 14,360 shares of company stock valued at $3,393,044 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AMGN. Morgan Stanley boosted its stake in shares of Amgen by 13.8% during the 4th quarter. Morgan Stanley now owns 9,745,556 shares of the medical research company’s stock worth $2,240,698,000 after acquiring an additional 1,179,665 shares in the last quarter. Norges Bank purchased a new stake in Amgen in the 4th quarter worth about $1,302,778,000. Aristotle Capital Management LLC grew its stake in Amgen by 5.5% during the 4th quarter. Aristotle Capital Management LLC now owns 4,395,783 shares of the medical research company’s stock valued at $1,006,606,000 after acquiring an additional 227,873 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Amgen by 2.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 3,997,342 shares of the medical research company’s stock valued at $1,015,964,000 after purchasing an additional 95,701 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in Amgen by 2.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,418,659 shares of the medical research company’s stock valued at $786,018,000 after purchasing an additional 71,386 shares in the last quarter. 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 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 BehÃ§et’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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