Wall Street analysts forecast that Amgen, Inc. (NASDAQ:AMGN) will report sales of $5.85 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Amgen’s earnings, with estimates ranging from $5.76 billion to $5.94 billion. Amgen reported sales of $5.97 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The company is expected to issue its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Amgen will report full year sales of $5.85 billion for the current fiscal year, with estimates ranging from $22.74 billion to $23.08 billion. For the next year, analysts expect that the business will report sales of $23.11 billion per share, with estimates ranging from $22.41 billion to $24.30 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Amgen.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $3.02 EPS.

AMGN has been the subject of several research analyst reports. Mizuho reiterated a “buy” rating and set a $198.00 target price (up from $183.00) on shares of Amgen in a research note on Thursday, September 28th. BMO Capital Markets reissued a “hold” rating and set a $198.00 price target on shares of Amgen in a research report on Friday, October 20th. Jefferies Group reissued a “buy” rating and set a $200.00 price target on shares of Amgen in a research report on Monday, September 25th. Royal Bank of Canada initiated coverage on Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 price target on the stock. Finally, Barclays upped their price target on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $190.22.

In related news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total value of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at $9,921,223.98. The disclosure for this sale can be found here. Insiders sold a total of 8,575 shares of company stock valued at $1,509,339 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of Amgen by 3,664.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after purchasing an additional 3,601,087 shares in the last quarter. FMR LLC raised its stake in shares of Amgen by 4.8% during the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock worth $9,817,037,000 after purchasing an additional 2,587,041 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Amgen by 40.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock worth $585,607,000 after purchasing an additional 986,700 shares in the last quarter. BlackRock Inc. raised its stake in shares of Amgen by 1.9% in the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock valued at $8,516,980,000 after acquiring an additional 909,689 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Amgen by 12.9% in the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after acquiring an additional 806,119 shares in the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.

Amgen (NASDAQ:AMGN) traded down $0.57 during trading on Wednesday, hitting $176.26. The stock had a trading volume of 2,193,700 shares, compared to its average volume of 3,205,625. The stock has a market cap of $128,362.77, a PE ratio of 14.06, a P/E/G ratio of 2.56 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen has a 12 month low of $145.12 and a 12 month high of $191.10.

Amgen declared that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $1.32 dividend. This is a positive change from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.00%. Amgen’s dividend payout ratio (DPR) is 41.63%.

COPYRIGHT VIOLATION NOTICE: “$5.85 Billion in Sales Expected for Amgen, Inc. (AMGN) This Quarter” was first published by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/13/5-85-billion-in-sales-expected-for-amgen-inc-amgn-this-quarter.html.

About Amgen

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).

Get a free copy of the Zacks research report on Amgen (AMGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.