Amgen, Inc. (NASDAQ:AMGN) – Stock analysts at Piper Jaffray Companies raised their Q1 2020 earnings per share estimates for Amgen in a report released on Thursday, July 11th. Piper Jaffray Companies analyst C. Raymond now forecasts that the medical research company will post earnings per share of $3.56 for the quarter, up from their previous forecast of $3.55.
Several other equities analysts have also issued reports on AMGN. Oppenheimer set a $210.00 target price on Amgen and gave the stock a “buy” rating in a research report on Friday, May 24th. Mizuho set a $21.00 target price on Neon Therapeutics and gave the stock a “buy” rating in a research report on Monday, July 1st. Zacks Investment Research upgraded GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Cantor Fitzgerald reiterated a “hold” rating and issued a $41.00 price objective on shares of Mylan in a research report on Monday, April 1st. Finally, BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $208.35.
Amgen stock opened at $174.93 on Friday. The firm has a market cap of $106.70 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 2.17 and a beta of 1.16. Amgen has a 1 year low of $166.30 and a 1 year high of $210.19. The stock’s 50-day moving average is $178.65. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.55 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.47 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Bangor Savings Bank raised its stake in shares of Amgen by 2.1% during the 1st quarter. Bangor Savings Bank now owns 2,682 shares of the medical research company’s stock worth $510,000 after purchasing an additional 55 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Amgen by 0.8% in the 2nd quarter. Carroll Financial Associates Inc. now owns 7,436 shares of the medical research company’s stock valued at $1,370,000 after acquiring an additional 58 shares during the period. Lincoln Capital Corp raised its stake in Amgen by 0.3% in the 2nd quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock valued at $3,959,000 after acquiring an additional 58 shares during the period. Bank OZK raised its stake in Amgen by 0.4% in the 1st quarter. Bank OZK now owns 16,628 shares of the medical research company’s stock valued at $3,159,000 after acquiring an additional 60 shares during the period. Finally, Diversified Trust Co raised its stake in Amgen by 0.4% in the 1st quarter. Diversified Trust Co now owns 14,856 shares of the medical research company’s stock valued at $2,822,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $175.68, for a total value of $351,360.00. Following the sale, the director now owns 16,219 shares in the company, valued at approximately $2,849,353.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 6,000 shares of company stock valued at $1,077,980 over the last quarter. 0.25% of the stock is owned by insiders.
About Amgen
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. 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; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.