Cantor Fitzgerald Increases Earnings Estimates for Amgen

Key Points

• Cantor Fitzgerald has raised its FY2025 earnings estimate for Amgen to $21.35 per share, up from a previous estimate of $20.90, while maintaining a "Neutral" rating and a price target of $305.00.
• Amgen's recent quarterly earnings surpassed expectations, reporting $6.02 per share on revenue of $9.18 billion, exceeding consensus estimates of $5.28 and $8.86 billion, respectively.
• The company will distribute a quarterly dividend of $2.38 per share, reflecting a 3.3% yield, with the payment date set for September 12th.

Amgen Inc. (NASDAQ:AMGN - Free Report) - Equities researchers at Cantor Fitzgerald boosted their FY2025 earnings estimates for shares of Amgen in a note issued to investors on Wednesday, August 13th. Cantor Fitzgerald analyst C. Gould now anticipates that the medical research company will post earnings per share of $21.35 for the year, up from their previous estimate of $20.90. Cantor Fitzgerald has a "Neutral" rating and a $305.00 price objective on the stock. The consensus estimate for Amgen's current full-year earnings is $20.62 per share.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.97 earnings per share.

Several other analysts have also recently commented on AMGN. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Citigroup raised their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $303.76.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $1.12 during midday trading on Thursday, hitting $290.45. The company had a trading volume of 92,852 shares, compared to its average volume of 2,868,755. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen has a twelve month low of $253.30 and a twelve month high of $339.17. The business has a 50-day simple moving average of $293.12 and a two-hundred day simple moving average of $292.80. The firm has a market capitalization of $156.37 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amgen

Several institutional investors have recently bought and sold shares of AMGN. Laurel Wealth Advisors LLC grew its stake in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company's stock worth $1,870,880,000 after buying an additional 6,676,575 shares during the period. Capital World Investors grew its stake in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank purchased a new position in shares of Amgen in the second quarter valued at $1,663,726,000. GAMMA Investing LLC boosted its stake in shares of Amgen by 43,573.5% in the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Finally, Capital International Investors boosted its stake in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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