Brokerages Expect Amgen, Inc. (AMGN) Will Post Quarterly Sales of $5.66 Billion

Brokerages forecast that Amgen, Inc. (NASDAQ:AMGN) will report $5.66 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Amgen’s earnings. The lowest sales estimate is $5.53 billion and the highest is $5.78 billion. Amgen posted sales of $6.06 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.6%. The business is expected to issue its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Amgen will report full year sales of $22.57 billion for the current fiscal year, with estimates ranging from $22.00 billion to $23.11 billion. For the next financial year, analysts anticipate that the company will report sales of $22.62 billion, with estimates ranging from $21.76 billion to $23.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Amgen.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.11. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 EPS.

A number of brokerages recently commented on AMGN. Goldman Sachs Group reaffirmed a “buy” rating and issued a $232.00 target price on shares of Amgen in a report on Thursday, January 17th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Oppenheimer set a $224.00 target price on Amgen and gave the stock a “buy” rating in a report on Sunday, January 27th. BidaskClub cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Amgen in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $208.84.

Shares of NASDAQ AMGN traded up $3.79 during midday trading on Monday, hitting $171.61. 1,487,535 shares of the stock traded hands, compared to its average volume of 3,056,764. The stock has a market capitalization of $102.23 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.21 and a beta of 1.15. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. Amgen has a one year low of $166.30 and a one year high of $210.19.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $1.45 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.80 dividend on an annualized basis and a yield of 3.38%. Amgen’s payout ratio is presently 40.28%.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $193.18, for a total value of $386,360.00. Following the completion of the sale, the director now owns 15,092 shares in the company, valued at approximately $2,915,472.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 6,000 shares of company stock valued at $1,115,580 in the last quarter. 0.25% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Amgen by 2.0% during the fourth quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after purchasing an additional 906,568 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Amgen by 20,103.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock worth $161,000 after purchasing an additional 31,268,677 shares during the last quarter. Geode Capital Management LLC lifted its stake in Amgen by 9.1% in the first quarter. Geode Capital Management LLC now owns 9,651,354 shares of the medical research company’s stock worth $1,831,047,000 after purchasing an additional 801,130 shares during the last quarter. Northern Trust Corp lifted its stake in Amgen by 4.7% in the fourth quarter. Northern Trust Corp now owns 9,182,050 shares of the medical research company’s stock worth $1,787,470,000 after purchasing an additional 408,675 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Amgen by 22.9% in the first quarter. Wells Fargo & Company MN now owns 7,527,083 shares of the medical research company’s stock worth $1,429,995,000 after purchasing an additional 1,403,169 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.

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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