Analysts Expect Amgen Inc. (AMGN) Will Post Quarterly Sales of $5.74 Billion
Analysts predict that Amgen Inc. (NASDAQ:AMGN) will announce $5.74 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Amgen’s earnings. The lowest sales estimate is $5.64 billion and the highest is $5.85 billion. Amgen reported sales of $5.81 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Amgen will report full year sales of $5.74 billion for the current year, with estimates ranging from $22.60 billion to $23.03 billion. For the next year, analysts forecast that the company will post sales of $23.11 billion per share, with estimates ranging from $22.69 billion to $24.35 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Amgen.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the company posted $2.84 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis.
A number of equities research analysts have recently commented on the company. Mizuho set a $195.00 price objective on Amgen and gave the company a “buy” rating in a research report on Saturday, May 6th. UBS AG reaffirmed a “neutral” rating and issued a $174.00 price objective (down previously from $175.00) on shares of Amgen in a research report on Monday, May 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $198.00 price objective (down previously from $200.00) on shares of Amgen in a research report on Monday, May 22nd. Morgan Stanley lifted their target price on Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $203.00 target price (up previously from $189.00) on shares of Amgen in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $186.04.
Shares of Amgen (NASDAQ:AMGN) traded up 1.31% during trading on Tuesday, hitting $170.37. The stock had a trading volume of 580,051 shares. Amgen has a 12-month low of $133.64 and a 12-month high of $184.21. The company has a market cap of $124.31 billion, a PE ratio of 15.52 and a beta of 1.35. The stock’s 50 day moving average is $173.92 and its 200-day moving average is $168.25.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 17th will be given a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 dividend on an annualized basis and a yield of 2.74%. Amgen’s dividend payout ratio (DPR) is 41.93%.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now directly owns 24,214 shares in the company, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Cable Hill Partners LLC increased its stake in shares of Amgen by 2.7% in the first quarter. Cable Hill Partners LLC now owns 982 shares of the medical research company’s stock worth $161,000 after buying an additional 26 shares during the period. Douglass Winthrop Advisors LLC increased its stake in shares of Amgen by 3.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 223,517 shares of the medical research company’s stock worth $36,672,000 after buying an additional 8,068 shares during the period. Forte Capital LLC ADV increased its stake in shares of Amgen by 8.1% in the first quarter. Forte Capital LLC ADV now owns 18,294 shares of the medical research company’s stock worth $3,002,000 after buying an additional 1,369 shares during the period. Sheets Smith Wealth Management increased its stake in shares of Amgen by 211.2% in the first quarter. Sheets Smith Wealth Management now owns 5,007 shares of the medical research company’s stock worth $821,000 after buying an additional 3,398 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Amgen by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 231,871 shares of the medical research company’s stock worth $38,043,000 after buying an additional 3,275 shares during the period. Institutional investors own 79.12% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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