Analysts Expect Amgen Inc. (AMGN) Will Announce Quarterly Sales of $5.73 Billion
Brokerages expect Amgen Inc. (NASDAQ:AMGN) to post $5.73 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Amgen’s earnings. The highest sales estimate is $5.85 billion and the lowest is $5.64 billion. Amgen reported sales of $5.81 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.4%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Amgen will report full year sales of $5.73 billion for the current year, with estimates ranging from $22.60 billion to $23.03 billion. For the next financial year, analysts anticipate that the company will post sales of $23.16 billion per share, with estimates ranging from $22.71 billion to $24.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Amgen.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. Amgen’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.84 earnings per share.
Several equities research analysts recently weighed in on AMGN shares. Leerink Swann restated a “market perform” rating and set a $161.00 target price on shares of Amgen in a research note on Thursday, June 22nd. Deutsche Bank AG started coverage on Amgen in a research note on Friday, June 23rd. They set a “hold” rating and a $172.00 target price for the company. BidaskClub upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. William Blair restated a “market perform” rating on shares of Amgen in a research note on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $189.00 target price on shares of Amgen in a research note on Friday, June 30th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Amgen currently has an average rating of “Buy” and a consensus price target of $189.99.
Amgen (NASDAQ AMGN) opened at 181.90 on Tuesday. The company has a 50-day moving average of $183.93 and a 200 day moving average of $170.98. Amgen has a 12-month low of $133.64 and a 12-month high of $191.10. The firm has a market cap of $132.73 billion, a price-to-earnings ratio of 16.57 and a beta of 1.36.
In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Waldron LP acquired a new stake in Amgen during the 1st quarter valued at approximately $444,000. Nikko Asset Management Americas Inc. grew its stake in Amgen by 50.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,800 shares of the medical research company’s stock valued at $788,000 after purchasing an additional 1,600 shares in the last quarter. Parsec Financial Management Inc. grew its stake in Amgen by 11.6% during the 1st quarter. Parsec Financial Management Inc. now owns 118,557 shares of the medical research company’s stock valued at $19,452,000 after purchasing an additional 12,358 shares in the last quarter. Gamble Jones Investment Counsel grew its stake in Amgen by 66.3% during the 1st quarter. Gamble Jones Investment Counsel now owns 31,896 shares of the medical research company’s stock valued at $5,233,000 after purchasing an additional 12,711 shares in the last quarter. Finally, Asset Advisors Corp grew its stake in Amgen by 4.4% during the 1st quarter. Asset Advisors Corp now owns 37,219 shares of the medical research company’s stock valued at $6,107,000 after purchasing an additional 1,571 shares in the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.
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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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