Zacks: Brokerages Anticipate Amgen, Inc. (NASDAQ:AMGN) Will Post Quarterly Sales of $5.63 Billion

Brokerages expect Amgen, Inc. (NASDAQ:AMGN) to announce sales of $5.63 billion for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Amgen’s earnings, with the highest sales estimate coming in at $5.82 billion and the lowest estimate coming in at $5.55 billion. Amgen posted sales of $5.90 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.6%. The company is scheduled to report its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Amgen will report full year sales of $22.79 billion for the current fiscal year, with estimates ranging from $22.58 billion to $23.06 billion. For the next financial year, analysts forecast that the business will post sales of $22.88 billion, with estimates ranging from $21.88 billion to $23.44 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Amgen.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the previous year, the company posted $3.83 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis.



Several equities research analysts recently issued reports on the company. Evercore ISI reiterated a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Royal Bank of Canada reiterated a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co boosted their price target on Amgen from $197.00 to $202.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Piper Jaffray Companies set a $210.00 price target on Amgen and gave the company a “buy” rating in a research note on Saturday, August 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $212.72.

Shares of NASDAQ:AMGN traded up $4.76 during trading on Tuesday, reaching $204.07. 197,841 shares of the stock were exchanged, compared to its average volume of 3,715,693. Amgen has a 12 month low of $166.30 and a 12 month high of $211.90. The firm has a market cap of $121.31 billion, a PE ratio of 14.17, a PEG ratio of 2.42 and a beta of 1.19. The stock has a 50-day moving average price of $183.54 and a 200-day moving average price of $182.71. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be issued a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is 40.28%.

In other Amgen news, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now directly owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Insiders sold 4,425 shares of company stock valued at $804,312 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in AMGN. Bray Capital Advisors increased its stake in Amgen by 11.6% in the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock valued at $3,626,000 after buying an additional 2,045 shares during the last quarter. Weaver Consulting Group purchased a new stake in Amgen in the 1st quarter valued at about $239,000. CHICAGO TRUST Co NA increased its stake in Amgen by 2.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock valued at $685,000 after buying an additional 100 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Amgen in the 4th quarter valued at about $117,000. Finally, Calton & Associates Inc. increased its stake in Amgen by 17.8% in the 2nd quarter. Calton & Associates Inc. now owns 1,770 shares of the medical research company’s stock valued at $326,000 after buying an additional 268 shares during the last quarter. 78.96% of the stock is currently owned by institutional investors.

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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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