Equities analysts forecast that Amgen Inc. (NASDAQ:AMGN) will announce $6.40 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Amgen's earnings. The lowest sales estimate is $6.26 billion and the highest is $6.60 billion. Amgen reported sales of $5.74 billion in the same quarter last year, which suggests a positive year over year growth rate of 11.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 28th.
According to Zacks, analysts expect that Amgen will report full year sales of $25.41 billion for the current fiscal year, with estimates ranging from $25.10 billion to $25.73 billion. For the next fiscal year, analysts forecast that the firm will report sales of $26.19 billion, with estimates ranging from $25.57 billion to $27.16 billion. Zacks Investment Research's sales averages are an average based on a survey of analysts that cover Amgen.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $3.81 by $0.44. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.97 EPS.
Several research firms recently issued reports on AMGN. BidaskClub lowered Amgen from a "sell" rating to a "strong sell" rating in a research report on Saturday. Cantor Fitzgerald upped their price objective on Amgen from $263.00 to $279.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Sanford C. Bernstein downgraded Amgen from an "outperform" rating to a "market perform" rating in a research note on Friday, October 9th. Barclays upped their price objective on Amgen from $245.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price objective on Amgen from $237.00 to $247.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of "Hold" and an average target price of $255.08.
AMGN stock opened at $230.71 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 3.20. The firm has a market cap of $135.13 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.08 and a beta of 0.81. Amgen has a 12-month low of $177.05 and a 12-month high of $264.97. The stock's 50 day simple moving average is $245.39 and its 200 day simple moving average is $238.37.
In other news, Director R Sanders Williams sold 250 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $242.95, for a total transaction of $60,737.50. Following the completion of the sale, the director now directly owns 5,159 shares of the company's stock, valued at $1,253,379.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $241.02, for a total value of $241,020.00. Insiders have sold 2,250 shares of company stock valued at $561,548 in the last ninety days. Company insiders own 0.36% of the company's stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AMGN. Skandinaviska Enskilda Banken AB publ lifted its stake in Amgen by 0.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 929,585 shares of the medical research company's stock worth $188,455,000 after acquiring an additional 3,643 shares in the last quarter. Morgan Stanley lifted its stake in Amgen by 7.4% in the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company's stock worth $1,472,598,000 after acquiring an additional 501,592 shares in the last quarter. AXA lifted its stake in Amgen by 26.0% in the 1st quarter. AXA now owns 591,112 shares of the medical research company's stock worth $119,837,000 after acquiring an additional 122,130 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Amgen by 115.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,777 shares of the medical research company's stock worth $360,000 after acquiring an additional 954 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Amgen in the 1st quarter worth about $1,206,000. 75.23% of the stock is owned by institutional investors and hedge funds.
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, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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