Amgen (NASDAQ:AMGN) Updates FY 2021 Earnings Guidance

Amgen (NASDAQ:AMGN) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of 16.000-17.000 for the period, compared to the Thomson Reuters consensus EPS estimate of $16.800. The company issued revenue guidance of $25.80 billion-$26.60 billion, compared to the consensus revenue estimate of $26.41 billion.

Shares of AMGN opened at $245.38 on Tuesday. The company has a market capitalization of $141.29 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.90 and a beta of 0.76. Amgen has a 52 week low of $210.28 and a 52 week high of $276.69. The company has a quick ratio of 1.88, a current ratio of 2.28 and a debt-to-equity ratio of 3.12. The stock’s 50-day moving average price is $248.86 and its 200-day moving average price is $236.11.

Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, April 26th. The medical research company reported $3.70 EPS for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.35). Amgen had a net margin of 29.42% and a return on equity of 95.55%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the company earned $4.17 EPS. Amgen’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen will post 16.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 8th. Investors of record on Monday, May 17th will be issued 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 2.87%. Amgen’s dividend payout ratio is presently 47.50%.

Several equities research analysts recently commented on the company. Atlantic Securities reaffirmed an underweight rating and issued a $200.00 price target on shares of Amgen in a report on Tuesday. SVB Leerink lowered their price objective on Amgen from $267.00 to $230.00 and set a market perform rating for the company in a research report on Tuesday. Oppenheimer lowered their price target on Amgen from $275.00 to $265.00 and set an outperform rating for the company in a research report on Monday. Credit Suisse Group reduced their price objective on Amgen from $265.00 to $259.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, Cantor Fitzgerald raised their price target on Amgen from $280.00 to $295.00 and gave the company an overweight rating in a research note on Wednesday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Amgen presently has a consensus rating of Hold and a consensus target price of $255.62.

In related news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $237.99, for a total value of $59,497.50. Following the completion of the sale, the director now owns 4,659 shares in the company, valued at approximately $1,108,795.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 11,110 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $236.51, for a total transaction of $2,627,626.10. The disclosure for this sale can be found here. Insiders sold 14,360 shares of company stock valued at $3,407,034 over the last quarter. Insiders own 0.36% of the company’s stock.

An institutional investor recently bought a new position in Amgen stock. OLD Mission Capital LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 940 shares of the medical research company’s stock, valued at approximately $239,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, BLINCYTO, Corlanor, ENBREL, EPOGEN, IMLYGIC, KYPROLIS, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, and XGEVA.

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Earnings History and Estimates for Amgen (NASDAQ:AMGN)

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