Erste Group Bank Issues Positive Forecast for Amgen Earnings

Key Points

• Erste Group Bank raised its FY2027 EPS forecast for Amgen to $24.66 from $24.36, above the analyst consensus of $22.94.
• Analyst sentiment remains mixed, with Amgen holding a consensus “Hold” rating and an average price target of $387.93.
• Amgen’s latest quarterly results exceeded expectations, reporting $6.29 EPS and $10.05 billion in revenue, while its quarterly dividend implies an annualized yield of approximately 2.4%.

Amgen Inc. (NASDAQ:AMGN - Free Report) - Equities research analysts at Erste Group Bank boosted their FY2027 earnings per share estimates for Amgen in a research report issued on Thursday, October 8th. Erste Group Bank analyst H. Engel now anticipates that the medical research company will post earnings of $24.66 per share for the year, up from their prior forecast of $24.36. The consensus estimate for Amgen's current full-year earnings is $22.94 per share.

Other equities research analysts have also issued reports about the stock. Mizuho upped their price objective on shares of Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley lowered their target price on shares of Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 7th. Sanford C. Bernstein boosted their target price on shares of Amgen from $335.00 to $345.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Finally, BMO Capital Markets dropped their target price on shares of Amgen from $450.00 to $415.00 and set a "market perform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $387.93.

Amgen Stock Down 1.1%

Amgen stock opened at $412.84 on Wednesday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen has a 52-week low of $288.00 and a 52-week high of $447.03. The firm has a 50 day moving average price of $414.16 and a two-hundred day moving average price of $373.24. The firm has a market cap of $223.19 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 3.01 and a beta of 0.41.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen's payout ratio is presently 62.65%.

Insider Buying and Selling

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Amgen

Hedge funds have recently modified their holdings of the stock. Wellington Altus USA Inc. boosted its position in Amgen by 72.3% during the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after purchasing an additional 34 shares during the period. Tower View Wealth Management LLC increased its stake in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Amgen in the second quarter worth about $36,000. Steph & Co. bought a new stake in shares of Amgen in the third quarter valued at approximately $42,000. Finally, Evergreen Advisors LLC bought a new stake in shares of Amgen in the first quarter valued at approximately $37,000. Institutional investors own 76.50% of the company's stock.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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