Amgen Inc. (NASDAQ:AMGN) Expected to Post Quarterly Sales of $6.25 Billion

Brokerages predict that Amgen Inc. (NASDAQ:AMGN) will announce sales of $6.25 billion for the current quarter, Zacks reports. Eight analysts have issued estimates for Amgen’s earnings, with the highest sales estimate coming in at $6.38 billion and the lowest estimate coming in at $6.08 billion. Amgen posted sales of $6.16 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, April 27th.

On average, analysts expect that Amgen will report full year sales of $26.37 billion for the current fiscal year, with estimates ranging from $26.13 billion to $26.54 billion. For the next fiscal year, analysts forecast that the firm will report sales of $27.43 billion, with estimates ranging from $26.18 billion to $28.47 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Amgen.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Monday, February 1st. The medical research company reported $3.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.42. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.57 billion. Amgen had a net margin of 29.42% and a return on equity of 95.55%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.64 EPS.

A number of research analysts recently issued reports on AMGN shares. Cantor Fitzgerald boosted their target price on shares of Amgen from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. Barclays dropped their target price on shares of Amgen from $242.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 11th. Oppenheimer boosted their target price on shares of Amgen from $266.00 to $275.00 in a research report on Monday, April 5th. The Goldman Sachs Group set a $277.00 target price on shares of Amgen and gave the company a “buy” rating in a research report on Thursday, March 4th. Finally, JPMorgan Chase & Co. set a $222.00 target price on shares of Amgen and gave the company a “neutral” rating in a research report on Thursday, March 4th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Amgen currently has an average rating of “Buy” and a consensus target price of $258.57.

Shares of NASDAQ AMGN traded up $2.07 during midday trading on Wednesday, reaching $248.95. The stock had a trading volume of 1,368,801 shares, compared to its average volume of 2,693,347. The firm has a market cap of $143.35 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. Amgen has a twelve month low of $210.28 and a twelve month high of $276.69. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.88 and a current ratio of 2.28. The company’s 50 day moving average price is $238.17 and its 200 day moving average price is $235.37.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 8th. Stockholders of record on Monday, May 17th will be paid a $1.76 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $7.04 annualized dividend and a dividend yield of 2.83%. Amgen’s payout ratio is 47.50%.

In related news, EVP Jonathan P. Graham sold 11,110 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $236.51, for a total transaction of $2,627,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $231.53, for a total transaction of $231,530.00. Following the transaction, the director now owns 16,805 shares of the company’s stock, valued at approximately $3,890,861.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,360 shares of company stock valued at $3,393,044. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. purchased a new stake in Amgen during the first quarter valued at about $3,453,000. Monument Capital Management lifted its holdings in Amgen by 8.4% during the fourth quarter. Monument Capital Management now owns 9,548 shares of the medical research company’s stock valued at $2,195,000 after purchasing an additional 743 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in Amgen by 4.3% during the fourth quarter. Great Lakes Advisors LLC now owns 17,162 shares of the medical research company’s stock valued at $3,946,000 after purchasing an additional 708 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in Amgen by 5.9% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 32,393 shares of the medical research company’s stock valued at $7,448,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Amgen by 5.9% during the third quarter. Kingsview Wealth Management LLC now owns 42,091 shares of the medical research company’s stock valued at $10,697,000 after purchasing an additional 2,339 shares during the last quarter. Institutional investors own 75.23% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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