Brokerages Expect Amgen, Inc. (AMGN) to Post $3.52 EPS

Wall Street brokerages expect Amgen, Inc. (NASDAQ:AMGN) to announce earnings of $3.52 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Amgen’s earnings. The lowest EPS estimate is $3.10 and the highest is $3.66. Amgen reported earnings of $3.27 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The firm is expected to report its next earnings report after the market closes on Thursday, July 26th.

On average, analysts expect that Amgen will report full-year earnings of $13.67 per share for the current financial year, with EPS estimates ranging from $12.88 to $14.16. For the next financial year, analysts expect that the company will post earnings of $14.12 per share, with EPS estimates ranging from $12.85 to $14.81. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Amgen.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the company posted $3.15 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Several research firms recently weighed in on AMGN. TheStreet raised shares of Amgen from a “c+” rating to a “b-” rating in a report on Friday, May 25th. Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Tuesday, June 26th. ValuEngine downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Finally, Mizuho reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Amgen in a report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. Amgen currently has an average rating of “Hold” and an average target price of $195.45.

Shares of Amgen traded up $0.42, hitting $185.71, during midday trading on Tuesday, according to MarketBeat. 1,348,000 shares of the stock traded hands, compared to its average volume of 4,165,692. Amgen has a 1-year low of $163.31 and a 1-year high of $201.23. The company has a market cap of $122.14 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.37. The company has a debt-to-equity ratio of 2.14, a quick ratio of 3.60 and a current ratio of 3.88.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $174.10, for a total value of $265,502.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 4,575 shares of company stock worth $809,851. 0.27% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMGN. Pzena Investment Management LLC increased its holdings in shares of Amgen by 79,361.6% in the 1st quarter. Pzena Investment Management LLC now owns 1,341,311 shares of the medical research company’s stock valued at $228,667,000 after purchasing an additional 1,339,623 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Amgen by 382.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,389,775 shares of the medical research company’s stock valued at $241,682,000 after purchasing an additional 1,101,649 shares during the period. Aristotle Capital Management LLC increased its holdings in shares of Amgen by 44.7% in the 4th quarter. Aristotle Capital Management LLC now owns 2,193,090 shares of the medical research company’s stock valued at $381,378,000 after purchasing an additional 677,373 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Amgen by 16.9% in the 4th quarter. Renaissance Technologies LLC now owns 4,579,445 shares of the medical research company’s stock valued at $796,365,000 after purchasing an additional 661,745 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Amgen by 1,245.3% in the 4th quarter. Millennium Management LLC now owns 519,141 shares of the medical research company’s stock valued at $90,279,000 after purchasing an additional 480,551 shares during the period. Hedge funds and other institutional investors own 78.34% 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, 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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