Amgen (NASDAQ:AMGN) Posts Earnings Results, Beats Estimates By $0.25 EPS

Amgen (NASDAQ:AMGNGet Rating) issued its quarterly earnings results on Thursday. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.25, Briefing.com reports. Amgen had a return on equity of 188.78% and a net margin of 24.92%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the prior year, the firm posted $4.38 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Amgen updated its FY22 guidance to $17.00 to $18.00 EPS and its FY 2022 guidance to $17.00-$18.00 EPS.

Amgen Trading Down 0.3 %

AMGN stock opened at $246.25 on Friday. The company’s 50-day simple moving average is $245.14 and its 200-day simple moving average is $239.83. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 39.31. Amgen has a 52-week low of $198.64 and a 52-week high of $258.45. The firm has a market cap of $131.55 billion, a P/E ratio of 20.87, a PEG ratio of 2.04 and a beta of 0.56.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be paid a dividend of $1.94 per share. This represents a $7.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, August 17th. Amgen’s payout ratio is currently 65.76%.

Insider Transactions at Amgen

In other news, Director R Sanders Williams sold 600 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 5,501 shares of the company’s stock, valued at approximately $1,375,250. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Jonathan P. Graham sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total value of $3,264,435.00. Following the transaction, the executive vice president now directly owns 37,333 shares of the company’s stock, valued at approximately $9,027,492.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Sanders Williams sold 600 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 5,501 shares in the company, valued at $1,375,250. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lumature Wealth Partners LLC lifted its stake in Amgen by 51.1% in the 1st quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 48 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Amgen in the 1st quarter valued at about $112,000. Shepherd Financial Partners LLC acquired a new stake in Amgen in the 1st quarter valued at about $200,000. PFS Investments Inc. acquired a new stake in Amgen in the 1st quarter valued at about $203,000. Finally, Ergoteles LLC acquired a new stake in Amgen in the 1st quarter valued at about $219,000. 79.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on Amgen from $239.00 to $253.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 16th. BMO Capital Markets cut their target price on Amgen from $263.00 to $243.00 in a research report on Thursday, April 28th. SVB Leerink began coverage on Amgen in a research report on Monday, May 23rd. They set a “market perform” rating and a $256.00 price target on the stock. Finally, Barclays increased their price target on Amgen from $233.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $250.00.

Amgen Company Profile

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Earnings History for Amgen (NASDAQ:AMGN)

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