Amgen (NASDAQ:AMGN) will post its quarterly earnings results after the market closes on Tuesday, April 24th. Analysts expect Amgen to post earnings of $3.18 per share for the quarter. Amgen has set its FY18 guidance at $12.60-13.70 EPS.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.03 by ($0.14). The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. Amgen had a return on equity of 30.87% and a net margin of 8.66%. Amgen’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 earnings per share. On average, analysts expect Amgen to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.
NASDAQ AMGN opened at $171.55 on Monday. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. The firm has a market cap of $114,648.48, a P/E ratio of 13.64, a PEG ratio of 2.10 and a beta of 1.36. Amgen has a 1 year low of $152.16 and a 1 year high of $201.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.
Amgen announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. TheStreet downgraded shares of Amgen from a “b-” rating to a “c+” rating in a report on Wednesday, April 11th. Barclays reduced their price target on shares of Amgen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, April 5th. ValuEngine downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, BidaskClub downgraded shares of Amgen from a “hold” rating to a “sell” rating in a report on Saturday, March 24th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. Amgen presently has an average rating of “Hold” and a consensus target price of $190.57.
In other news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $172.68, for a total value of $263,337.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 4,575 shares of company stock worth $818,330 in the last ninety days. Insiders own 0.27% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. South Texas Money Management Ltd. boosted its stake in Amgen by 0.7% during the 2nd quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock worth $555,000 after acquiring an additional 22 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Amgen by 18.4% during the 2nd quarter. D.A. Davidson & CO. now owns 76,157 shares of the medical research company’s stock worth $13,116,000 after buying an additional 11,839 shares during the period. Pinebridge Investments L.P. raised its holdings in Amgen by 1,620.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 166,033 shares of the medical research company’s stock worth $28,596,000 after buying an additional 156,382 shares during the period. Trustmark National Bank Trust Department raised its holdings in Amgen by 46.0% during the 2nd quarter. Trustmark National Bank Trust Department now owns 11,330 shares of the medical research company’s stock worth $1,951,000 after buying an additional 3,571 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Amgen by 29.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 8,809 shares of the medical research company’s stock worth $1,517,000 after buying an additional 1,990 shares during the period. 85.76% of the stock is currently owned by institutional investors and hedge funds.
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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