Q3 2024 EPS Estimates for Amgen Inc. Decreased by William Blair (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – William Blair dropped their Q3 2024 earnings per share (EPS) estimates for Amgen in a note issued to investors on Wednesday, August 7th. William Blair analyst M. Phipps now forecasts that the medical research company will post earnings of $4.85 per share for the quarter, down from their prior forecast of $5.41. William Blair has a “Outperform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.50 per share. William Blair also issued estimates for Amgen’s Q4 2024 earnings at $5.48 EPS, Q1 2025 earnings at $4.88 EPS and Q3 2025 earnings at $5.34 EPS.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the firm earned $5.00 earnings per share. Amgen’s revenue was up 20.1% compared to the same quarter last year.

Several other brokerages have also issued reports on AMGN. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada boosted their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $326.89.

Amgen Price Performance

Shares of AMGN opened at $322.49 on Friday. Amgen has a 52-week low of $248.38 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The business’s 50 day moving average price is $318.39 and its two-hundred day moving average price is $298.84. The firm has a market cap of $172.99 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMGN. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the 4th quarter worth about $29,000. United Community Bank purchased a new stake in Amgen during the 4th quarter worth about $29,000. Horizon Financial Services LLC purchased a new stake in Amgen during the 1st quarter worth about $28,000. nVerses Capital LLC purchased a new stake in Amgen during the 2nd quarter worth about $31,000. Finally, Delos Wealth Advisors LLC raised its holdings in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.79%. Amgen’s dividend payout ratio is presently 128.57%.

About Amgen

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.