Equities research analysts expect Amgen, Inc. (NASDAQ:AMGN) to announce sales of $5.68 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Amgen’s earnings. The highest sales estimate is $5.82 billion and the lowest is $5.47 billion. Amgen reported sales of $5.53 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, April 26th.
According to Zacks, analysts expect that Amgen will report full year sales of $5.68 billion for the current financial year, with estimates ranging from $22.75 billion to $23.58 billion. For the next fiscal year, analysts forecast that the company will report sales of $23.21 billion per share, with estimates ranging from $22.15 billion to $24.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Amgen.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, February 2nd. The medical research company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.10. Amgen had a net margin of 33.59% and a return on equity of 29.42%. The company earned $5.97 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period in the prior year, the firm earned $2.61 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year.
AMGN has been the topic of several research analyst reports. BMO Capital Markets reissued a “buy” rating and set a $197.00 target price on shares of Amgen in a research report on Monday, January 9th. Robert W. Baird reissued a “neutral” rating and set a $165.00 target price on shares of Amgen in a research report on Friday, March 17th. Zacks Investment Research lowered Amgen from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Cann reissued an “outperform” rating and set a $189.00 target price on shares of Amgen in a research report on Tuesday, February 28th. Finally, Royal Bank of Canada set a $190.00 target price on Amgen and gave the stock a “buy” rating in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $186.94.
Several hedge funds have recently bought and sold shares of the stock. Pennsylvania Trust Co increased its stake in Amgen by 11.2% in the third quarter. Pennsylvania Trust Co now owns 113,364 shares of the medical research company’s stock worth $18,910,000 after buying an additional 11,456 shares during the period. P.R. Herzig & Co. Inc. increased its stake in Amgen by 17.0% in the third quarter. P.R. Herzig & Co. Inc. now owns 10,150 shares of the medical research company’s stock worth $1,693,000 after buying an additional 1,475 shares during the period. National Pension Service increased its stake in Amgen by 8.7% in the third quarter. National Pension Service now owns 462,218 shares of the medical research company’s stock worth $77,103,000 after buying an additional 37,019 shares during the period. Capital Advisors Ltd. LLC increased its stake in Amgen by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 1,083 shares of the medical research company’s stock worth $181,000 after buying an additional 5 shares during the period. Finally, Private Trust Co. NA increased its stake in Amgen by 15.5% in the third quarter. Private Trust Co. NA now owns 3,636 shares of the medical research company’s stock worth $606,000 after buying an additional 488 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Amgen (NASDAQ:AMGN) traded down 0.491% during mid-day trading on Friday, reaching $161.245. 1,087,837 shares of the company were exchanged. The stock’s 50-day moving average price is $169.02 and its 200-day moving average price is $158.67. Amgen has a 1-year low of $133.64 and a 1-year high of $184.21. The stock has a market capitalization of $118.75 billion, a price-to-earnings ratio of 15.747 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Wednesday, May 17th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 44.92%.
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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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