$5.85 Billion in Sales Expected for Amgen, Inc. (AMGN) This Quarter
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.
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%.
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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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