Brokerages forecast that Amgen, Inc. (NASDAQ:AMGN) will announce sales of $5.82 billion for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Amgen’s earnings, with estimates ranging from $5.66 billion to $6.29 billion. Amgen reported sales of $6.23 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 6.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Amgen will report full year sales of $22.97 billion for the current financial year, with estimates ranging from $22.66 billion to $23.46 billion. For the next fiscal year, analysts forecast that the company will post sales of $24.89 billion, with estimates ranging from $23.44 billion to $26.31 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Amgen.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, October 29th. The medical research company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.53 by $0.13. Amgen had a net margin of 34.48% and a return on equity of 80.26%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the firm earned $3.69 EPS. The company’s revenue was down 2.8% on a year-over-year basis.

Several analysts have commented on the stock. William Blair restated a “hold” rating on shares of Amgen in a report on Friday, August 30th. Evercore ISI reiterated a “hold” rating on shares of Amgen in a report on Sunday, August 11th. Leerink Swann lifted their price objective on shares of Amgen from $189.00 to $205.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Citigroup reiterated a “buy” rating on shares of Amgen in a report on Monday, August 12th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $220.00 price objective (up from $202.00) on shares of Amgen in a report on Tuesday, August 27th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.47.

In related news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $206.70, for a total value of $413,400.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $3,376,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $215.45, for a total transaction of $91,566.25. Following the completion of the transaction, the director now directly owns 5,413 shares of the company’s stock, valued at $1,166,230.85. The disclosure for this sale can be found here. Insiders sold 17,851 shares of company stock valued at $3,685,674 over the last three months. 0.25% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in AMGN. BlackRock Inc. boosted its position in Amgen by 3.4% during the second quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock worth $8,793,346,000 after purchasing an additional 1,585,911 shares during the period. Morgan Stanley boosted its position in Amgen by 0.5% during the second quarter. Morgan Stanley now owns 6,753,145 shares of the medical research company’s stock worth $1,244,470,000 after purchasing an additional 34,674 shares during the period. Nuveen Asset Management LLC boosted its position in Amgen by 1,334.9% during the second quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after purchasing an additional 4,598,329 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Amgen by 9.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,780,461 shares of the medical research company’s stock worth $512,383,000 after purchasing an additional 239,576 shares during the period. Finally, Putnam Investments LLC boosted its position in Amgen by 8.9% during the second quarter. Putnam Investments LLC now owns 1,851,073 shares of the medical research company’s stock worth $341,116,000 after purchasing an additional 151,910 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

NASDAQ:AMGN traded up $2.36 during mid-day trading on Monday, reaching $220.86. 2,016,400 shares of the company were exchanged, compared to its average volume of 2,383,752. The company has a quick ratio of 2.59, a current ratio of 2.89 and a debt-to-equity ratio of 2.54. The stock has a market cap of $130.52 billion, a PE ratio of 15.34, a PEG ratio of 2.26 and a beta of 1.09. The company has a fifty day moving average of $205.51 and a 200 day moving average of $190.14. Amgen has a 12 month low of $166.30 and a 12 month high of $225.26.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.63%. Amgen’s dividend payout ratio is presently 40.28%.

Amgen Company Profile

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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