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Amgen Inc. (NASDAQ:AMGN) Forecasted to Earn Q2 2021 Earnings of $4.01 Per Share

Last updated on Friday, May 7, 2021 | 2021 MarketBeat

Amgen Inc. (NASDAQ:AMGN) - Research analysts at Oppenheimer cut their Q2 2021 earnings per share (EPS) estimates for shares of Amgen in a research note issued on Sunday, May 2nd. Oppenheimer analyst J. Olson now forecasts that the medical research company will earn $4.01 per share for the quarter, down from their prior forecast of $4.02. Oppenheimer currently has a "Outperform" rating and a $265.00 target price on the stock. Oppenheimer also issued estimates for Amgen's FY2021 earnings at $16.08 EPS. Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the consensus estimate of $4.05 by ($0.35). Amgen had a net margin of 29.42% and a return on equity of 95.55%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the company posted $4.17 EPS. The company's quarterly revenue was down 4.2% on a year-over-year basis.

AMGN has been the topic of a number of other reports. Robert W. Baird reissued a "sell" rating on shares of Amgen in a report on Thursday, April 29th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, April 28th. Barclays cut their price objective on shares of Amgen from $242.00 to $230.00 and set an "equal weight" rating for the company in a research report on Thursday, March 11th. Morgan Stanley reduced their price target on shares of Amgen from $281.00 to $278.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Atlantic Securities reaffirmed an "underweight" rating and issued a $200.00 price target on shares of Amgen in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of "Hold" and an average price target of $255.62.

Shares of NASDAQ AMGN opened at $251.30 on Wednesday. The company has a 50-day moving average price of $249.57 and a 200-day moving average price of $236.28. Amgen has a 1 year low of $210.28 and a 1 year high of $276.69. The stock has a market capitalization of $144.39 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Monday, May 17th will be issued a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, May 14th. Amgen's dividend payout ratio (DPR) is presently 47.50%.

In other news, Director R Sanders Williams sold 250 shares of the firm's stock in a transaction on Monday, February 8th. The stock was sold at an average price of $237.99, for a total transaction of $59,497.50. Following the completion of the transaction, the director now directly owns 4,659 shares in the company, valued at $1,108,795.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $249.98, for a total value of $249,980.00. Following the completion of the transaction, the director now directly owns 16,927 shares of the company's stock, valued at approximately $4,231,411.46. The disclosure for this sale can be found here. Insiders sold a total of 3,250 shares of company stock worth $779,408 over the last ninety days. Insiders own 0.36% of the company's stock.

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. OLD Mission Capital LLC bought a new position in Amgen during the 3rd quarter valued at about $239,000. Schonfeld Strategic Advisors LLC bought a new stake in Amgen in the 3rd quarter worth approximately $3,994,000. Rockland Trust Co. raised its stake in Amgen by 5.5% during the 4th quarter. Rockland Trust Co. now owns 5,255 shares of the medical research company's stock valued at $1,208,000 after buying an additional 272 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Amgen by 4.3% in the 4th quarter. Private Trust Co. NA now owns 12,067 shares of the medical research company's stock worth $2,774,000 after buying an additional 500 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in shares of Amgen by 4.3% in the fourth quarter. M&R Capital Management Inc. now owns 3,035 shares of the medical research company's stock worth $697,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 75.23% of the company's stock.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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