Q1 2024 Earnings Estimate for Amgen Inc. (NASDAQ:AMGN) Issued By William Blair

Amgen Inc. (NASDAQ:AMGN) – Research analysts at William Blair reduced their Q1 2024 earnings per share estimates for shares of Amgen in a report released on Wednesday, April 17th. William Blair analyst M. Phipps now expects that the medical research company will earn $3.64 per share for the quarter, down from their previous forecast of $3.68. The consensus estimate for Amgen’s current full-year earnings is $19.45 per share. William Blair also issued estimates for Amgen’s FY2024 earnings at $18.85 EPS.

Several other brokerages also recently commented on AMGN. StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. UBS Group reduced their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $296.95.

Amgen Trading Up 2.4 %

AMGN opened at $268.93 on Thursday. The company has a fifty day moving average price of $276.90 and a two-hundred day moving average price of $281.26. Amgen has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a market cap of $144.12 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the business posted $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.35%. Amgen’s payout ratio is presently 72.06%.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently modified their holdings of AMGN. Briaud Financial Planning Inc bought a new stake in shares of Amgen during the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen in the fourth quarter worth about $29,000. United Community Bank purchased a new position in Amgen in the fourth quarter valued at about $29,000. Dagco Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $29,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

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.