FY2027 Earnings Forecast for Amgen Issued By Leerink Partnrs

Key Points

• Amgen's FY2027 EPS forecast has been revised down by Leerink Partners to $19.79 from $20.08, while the consensus estimate currently stands at $20.62.
• Amgen recently reported a quarterly EPS of $6.02, exceeding analyst expectations of $5.28, and showed a revenue increase of 9.4% year-over-year.
• The company announced a quarterly dividend of $2.38 per share, representing a yield of 3.3%, with a payout ratio of 77.84%.

Amgen Inc. (NASDAQ:AMGN - Free Report) - Investment analysts at Leerink Partnrs dropped their FY2027 earnings per share (EPS) estimates for Amgen in a research note issued to investors on Tuesday, August 5th. Leerink Partnrs analyst D. Risinger now forecasts that the medical research company will post earnings per share of $19.79 for the year, down from their prior estimate of $20.08. The consensus estimate for Amgen's current full-year earnings is $20.62 per share. Leerink Partnrs also issued estimates for Amgen's FY2028 earnings at $19.19 EPS and FY2029 earnings at $20.77 EPS.

AMGN has been the subject of several other reports. Citigroup boosted their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Finally, Royal Bank Of Canada reduced their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of "Hold" and an average target price of $303.76.

Amgen Price Performance

Shares of Amgen stock traded up $1.09 during trading on Friday, reaching $285.79. The company's stock had a trading volume of 386,476 shares, compared to its average volume of 2,895,950. The stock has a 50-day moving average price of $293.20 and a two-hundred day moving average price of $292.48. The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 7.24. Amgen has a one year low of $253.30 and a one year high of $339.17. The stock has a market capitalization of $153.67 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey boosted its stake in Amgen by 4.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 81,639 shares of the medical research company's stock valued at $22,794,000 after buying an additional 3,505 shares in the last quarter. Bailard Inc. raised its position in shares of Amgen by 6.3% during the second quarter. Bailard Inc. now owns 49,458 shares of the medical research company's stock worth $13,809,000 after acquiring an additional 2,925 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Amgen by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company's stock worth $3,619,489,000 after acquiring an additional 291,271 shares during the last quarter. ABC Arbitrage SA raised its position in shares of Amgen by 12.4% during the second quarter. ABC Arbitrage SA now owns 5,756 shares of the medical research company's stock worth $1,607,000 after acquiring an additional 634 shares during the last quarter. Finally, Everett Harris & Co. CA increased its holdings in Amgen by 1.2% in the second quarter. Everett Harris & Co. CA now owns 23,633 shares of the medical research company's stock worth $6,599,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company's stock.

Amgen Announces Dividend

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

About Amgen

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.