Erste Group Bank Analysts Lower Earnings Estimates for Amgen

Key Points

• Erste Group Bank slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62, while keeping a Hold rating on the stock.
• Amgen’s latest quarterly results beat expectations, with EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• The stock was trading up 3.7% to $371.58, and Wall Street’s overall view remains mixed with a consensus Hold rating and an average target price of $356.62.

Amgen Inc. (NASDAQ:AMGN - Free Report) - Analysts at Erste Group Bank cut their FY2027 earnings per share (EPS) estimates for shares of Amgen in a research note issued on Wednesday, July 15th. Erste Group Bank analyst H. Engel now expects that the medical research company will post earnings per share of $23.58 for the year, down from their previous forecast of $23.62. Erste Group Bank currently has a "Hold" rating on the stock. The consensus estimate for Amgen's current full-year earnings is $22.31 per share.

Other analysts have also issued reports about the stock. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Daiwa Securities Group decreased their price target on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a report on Friday, June 5th. Finally, Mizuho lifted their target price on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average target price of $356.62.

Amgen Trading Up 3.7%

AMGN opened at $371.58 on Friday. Amgen has a one year low of $269.77 and a one year high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The stock has a market cap of $200.55 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 3.63 and a beta of 0.41. The stock's 50 day moving average price is $347.00 and its 200-day moving average price is $350.27.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the company earned $4.90 earnings per share. Amgen's revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Institutional Investors Weigh In On Amgen

A number of hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. increased its stake in shares of Amgen by 10.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company's stock worth $157,584,000 after acquiring an additional 43,884 shares during the period. Curtis Advisory Group LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $1,669,000. Adell Harriman & Carpenter Inc. grew its position in Amgen by 7.9% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after buying an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Amgen in the 4th quarter valued at about $22,441,000. Finally, Robinhood Asset Management LLC purchased a new position in Amgen during the fourth quarter worth approximately $17,526,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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