William Blair Weighs in on Amgen’s Q3 Earnings (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Stock analysts at William Blair lifted their Q3 2024 earnings estimates for shares of Amgen in a research note issued to investors on Tuesday, October 15th. William Blair analyst M. Phipps now anticipates that the medical research company will post earnings of $5.02 per share for the quarter, up from their previous estimate 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.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (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 analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.00 EPS.

Other equities analysts also recently issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday. They issued an “outperform” rating and a $380.00 price objective on the stock. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the company from $320.00 to $333.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $329.48.

Amgen Stock Performance

Shares of AMGN opened at $321.66 on Friday. The company has a 50-day simple moving average of $326.07 and a 200-day simple moving average of $312.15. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $172.55 billion, a PE ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen has a 52-week low of $249.70 and a 52-week high of $346.85.

Amgen Dividend Announcement

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

Institutional Investors Weigh In On Amgen

Hedge funds have recently modified their holdings of the stock. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen in the second quarter valued at approximately $33,000. Matrix Trust Co purchased a new position in Amgen in the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC raised its holdings in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

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.