William Blair Estimates Amgen’s Q4 Earnings (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) – Equities research analysts at William Blair reduced their Q4 2024 earnings per share estimates for Amgen in a research report issued on Tuesday, January 21st. William Blair analyst M. Phipps now expects that the medical research company will post earnings per share of $5.05 for the quarter, down from their prior estimate of $5.12. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Amgen’s current full-year earnings is $19.57 per share. William Blair also issued estimates for Amgen’s FY2025 earnings at $21.34 EPS.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.96 EPS.

A number of other research firms have also recently commented on AMGN. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America reissued an “underperform” rating and issued a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Stock Performance

Shares of AMGN stock opened at $274.81 on Wednesday. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85. The firm’s 50-day simple moving average is $272.95 and its two-hundred day simple moving average is $306.92. The firm has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Hedge Funds Weigh In On Amgen

A number of large investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after acquiring an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after acquiring an additional 251,876 shares during the period. Janus Henderson Group PLC raised its stake in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.46%. Amgen’s dividend payout ratio is currently 115.24%.

Amgen Company Profile

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.