Zacks: Analysts Anticipate Amgen, Inc. (AMGN) Will Announce Quarterly Sales of $5.46 Billion

Wall Street analysts forecast that Amgen, Inc. (NASDAQ:AMGN) will post sales of $5.46 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Amgen’s earnings, with the lowest sales estimate coming in at $5.27 billion and the highest estimate coming in at $5.68 billion. Amgen also posted sales of $5.46 billion during the same quarter last year. The business is expected to announce its next earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Amgen will report full year sales of $5.46 billion for the current financial year, with estimates ranging from $22.16 billion to $23.68 billion. For the next financial year, analysts anticipate that the business will report sales of $22.64 billion per share, with estimates ranging from $21.22 billion to $24.16 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Amgen.

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Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.89 EPS.

AMGN has been the topic of several analyst reports. Oppenheimer set a $205.00 target price on shares of Amgen and gave the company a “buy” rating in a report on Friday, January 5th. Atlantic Securities cut shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 target price on the stock. in a report on Monday, February 5th. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $181.60 target price on the stock in a report on Tuesday, February 27th. Piper Jaffray Companies reduced their target price on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Finally, Cann reaffirmed a “buy” rating and issued a $205.00 target price on shares of Amgen in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $191.26.

Shares of AMGN stock opened at $169.43 on Friday. The stock has a market cap of $130,846.88, a PE ratio of 65.93, a PEG ratio of 2.23 and a beta of 1.37. Amgen has a 1 year low of $152.16 and a 1 year high of $201.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be paid a $1.32 dividend. The ex-dividend date is Wednesday, May 16th. This represents a $5.28 annualized dividend and a yield of 3.12%. Amgen’s dividend payout ratio is currently 205.45%.

Amgen declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total transaction of $283,070.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 4,575 shares of company stock worth $838,064 over the last quarter. 0.19% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Baker Ellis Asset Management LLC purchased a new position in shares of Amgen during the third quarter worth approximately $108,000. Jackson Grant Investment Advisers Inc. grew its position in shares of Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after acquiring an additional 5 shares during the last quarter. Phocas Financial Corp. purchased a new position in shares of Amgen during the second quarter worth approximately $110,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock worth $113,000 after acquiring an additional 340 shares during the last quarter. Finally, Omnia Family Wealth LLC grew its position in shares of Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 79.50% of the company’s stock.

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Amgen Company Profile

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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