$5.86 Billion in Sales Expected for Amgen, Inc. (AMGN) This Quarter

Brokerages expect Amgen, Inc. (NASDAQ:AMGN) to report $5.86 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Amgen’s earnings. The highest sales estimate is $6.12 billion and the lowest is $5.74 billion. Amgen posted sales of $5.80 billion in the same quarter last year, which suggests a positive year over year growth rate of 1%. The firm is expected to announce its next earnings results after the market closes on Tuesday, January 29th.

According to Zacks, analysts expect that Amgen will report full year sales of $23.35 billion for the current year, with estimates ranging from $22.90 billion to $23.64 billion. For the next financial year, analysts anticipate that the firm will report sales of $22.88 billion, with estimates ranging from $22.01 billion to $24.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Amgen.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.45 by $0.24. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 EPS.

Several analysts have recently weighed in on AMGN shares. Oppenheimer restated a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Tuesday, October 2nd. Jefferies Financial Group restated a “buy” rating and issued a $220.00 price objective on shares of Amgen in a research report on Monday, October 1st. Citigroup boosted their price objective on shares of Amgen from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. set a $192.00 target price on shares of Amgen and gave the company a “neutral” rating in a research note on Tuesday, December 4th. Finally, BidaskClub raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $205.50.

In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of Amgen stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the completion of the transaction, the senior vice president now directly owns 23,090 shares of the company’s stock, valued at $4,684,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tyler Jacks sold 20,000 shares of Amgen stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $195.41, for a total transaction of $3,908,200.00. Following the completion of the transaction, the director now directly owns 28,979 shares of the company’s stock, valued at $5,662,786.39. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

A number of institutional investors have recently modified their holdings of AMGN. Capital International Investors raised its holdings in Amgen by 301.4% in the third quarter. Capital International Investors now owns 11,093,182 shares of the medical research company’s stock worth $2,299,506,000 after buying an additional 8,329,861 shares during the last quarter. Capital World Investors purchased a new position in shares of Amgen during the third quarter valued at approximately $952,900,000. FMR LLC raised its holdings in shares of Amgen by 4.4% during the third quarter. FMR LLC now owns 35,823,268 shares of the medical research company’s stock valued at $7,425,805,000 after purchasing an additional 1,505,266 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Amgen by 36.2% during the third quarter. AQR Capital Management LLC now owns 2,907,575 shares of the medical research company’s stock valued at $602,711,000 after purchasing an additional 773,506 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Amgen by 54.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,075,050 shares of the medical research company’s stock valued at $222,847,000 after purchasing an additional 380,562 shares during the last quarter. 76.86% of the stock is owned by institutional investors and hedge funds.

NASDAQ:AMGN traded down $1.79 during trading hours on Friday, hitting $202.09. The stock had a trading volume of 103,303 shares, compared to its average volume of 2,768,633. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 2.84. Amgen has a one year low of $163.31 and a one year high of $210.19. The company has a market cap of $129.92 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 2.04 and a beta of 1.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be paid a dividend of $1.45 per share. The ex-dividend date is Thursday, February 14th. This represents a $5.80 annualized dividend and a yield of 2.87%. This is a positive change from Amgen’s previous quarterly dividend of $1.32. Amgen’s payout ratio is presently 41.97%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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