Amgen (NASDAQ:AMGN - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 19.000-20.200 for the period, compared to the consensus EPS estimate of 19.480. The company issued revenue guidance of $32.5 billion-$33.8 billion, compared to the consensus revenue estimate of $33.0 billion.
Amgen Price Performance
NASDAQ AMGN traded up $32.90 during midday trading on Friday, hitting $311.29. The company had a trading volume of 9,644,103 shares, compared to its average volume of 2,894,568. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a market capitalization of $166.97 billion, a PE ratio of 24.92, a P/E/G ratio of 2.68 and a beta of 0.60. The firm has a 50-day moving average price of $274.51 and a 200-day moving average price of $281.33.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen's quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 earnings per share. As a group, analysts anticipate that Amgen will post 19.43 earnings per share for the current fiscal year.
Amgen Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, May 16th. Amgen's dividend payout ratio is 72.06%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Barclays upgraded Amgen from an underweight rating to an equal weight rating and boosted their price objective for the company from $230.00 to $300.00 in a research note on Friday. Leerink Partnrs downgraded Amgen from an outperform rating to a market perform rating in a research report on Wednesday, February 7th. Morgan Stanley boosted their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an equal weight rating in a research note on Friday. BMO Capital Markets increased their price target on shares of Amgen from $336.00 to $355.00 and gave the company an outperform rating in a research report on Friday. Finally, Oppenheimer restated an outperform rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Amgen presently has an average rating of Moderate Buy and a consensus price target of $305.05.
Check Out Our Latest Research Report on Amgen
Insider Buying and Selling
In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business's stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company's stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.
About Amgen
(
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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.
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