Erste Group Bank Brokers Reduce Earnings Estimates for Amgen

Key Points

• Erste Group Bank lowered Amgen’s FY2027 EPS estimate to $24.36 from $24.43, still above the broader consensus estimate of $22.94.
• Analyst sentiment remains mixed, with Amgen receiving an overall “Hold” consensus rating and an average price target of $381.32.
• Amgen recently exceeded quarterly expectations, reporting $6.29 in EPS and $10.05 billion in revenue, while paying a quarterly dividend of $2.52 per share.

Amgen Inc. (NASDAQ:AMGN - Free Report) - Stock analysts at Erste Group Bank dropped their FY2027 earnings per share (EPS) estimates for Amgen in a research note issued on Friday, September 18th. Erste Group Bank analyst H. Engel now anticipates that the medical research company will earn $24.36 per share for the year, down from their previous forecast of $24.43. The consensus estimate for Amgen's current full-year earnings is $22.94 per share.

A number of other analysts have also weighed in on AMGN. Citigroup upped their target price on Amgen from $345.00 to $405.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Mizuho boosted their price target on Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. HSBC downgraded Amgen from a "buy" rating to a "hold" rating and dropped their price objective for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Finally, UBS Group reiterated a "buy" rating and issued a $430.00 target price on shares of Amgen in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $381.32.

Amgen Stock Up 1.9%

Shares of Amgen stock opened at $393.16 on Tuesday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen has a 1 year low of $269.77 and a 1 year high of $447.03. The firm's 50-day moving average is $402.42 and its two-hundred day moving average is $367.80. The stock has a market cap of $212.55 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 2.78 and a beta of 0.43.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the company posted $6.02 EPS. Amgen's revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were given a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.6%. Amgen's dividend payout ratio (DPR) is presently 62.65%.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 in the last three months. Insiders own 0.85% of the company's stock.

Institutional Trading of Amgen

Several large investors have recently bought and sold shares of the stock. Wellington Altus USA Inc. increased its holdings in shares of Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after purchasing an additional 34 shares during the period. Tower View Wealth Management LLC boosted its position in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Amgen during the 2nd quarter worth approximately $36,000. Evergreen Advisors LLC purchased a new position in Amgen during the 1st quarter worth approximately $37,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Amgen during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen's medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.

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