What is Zacks Research’s Forecast for Amgen FY2024 Earnings?

Amgen Inc. (NASDAQ:AMGN) – Zacks Research increased their FY2024 earnings estimates for Amgen in a report issued on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the medical research company will post earnings of $19.37 per share for the year, up from their previous estimate of $19.23. The consensus estimate for Amgen’s current full-year earnings is $19.51 per share. Zacks Research also issued estimates for Amgen’s Q1 2025 earnings at $4.57 EPS, Q2 2025 earnings at $5.03 EPS, Q4 2025 earnings at $5.26 EPS, FY2025 earnings at $20.08 EPS, Q1 2026 earnings at $4.69 EPS and Q2 2026 earnings at $5.14 EPS.

Several other equities analysts also recently commented on AMGN. Bank of America upped their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. TD Cowen boosted their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Up 0.7 %

Shares of NASDAQ AMGN opened at $289.77 on Friday. The stock has a market capitalization of $155.76 billion, a price-to-earnings ratio of 37.10, a P/E/G ratio of 2.50 and a beta of 0.60. Amgen has a 12-month low of $260.68 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s 50-day moving average price is $317.28 and its 200-day moving average price is $318.02.

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

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.11%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Institutional Trading of Amgen

Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Pathway Financial Advisers LLC boosted its position in Amgen by 33,125.4% in the 3rd 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 in the last quarter. International Assets Investment Management LLC grew its position in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Janus Henderson Group PLC increased its holdings in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the period. Finally, Granite Bay Wealth Management LLC grew its position in shares of Amgen by 9,058.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

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.