Amgen (NASDAQ:AMGN) Announces Earnings Results

Amgen (NASDAQ:AMGN) posted its quarterly earnings results on Tuesday. The medical research company reported $3.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39, Fidelity Earnings reports. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the prior year, the company posted $3.83 EPS. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Amgen updated its FY 2019 guidance to $13.75-14.30 EPS and its FY19 guidance to 13.75-14.30 EPS.

AMGN stock traded up $8.15 during trading on Wednesday, reaching $184.60. 154,096 shares of the stock were exchanged, compared to its average volume of 2,373,673. The business’s 50 day simple moving average is $180.29. Amgen has a twelve month low of $166.30 and a twelve month high of $210.19. The company has a current ratio of 2.77, a quick ratio of 2.53 and a debt-to-equity ratio of 2.71. The firm has a market capitalization of $107.62 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 2.14 and a beta of 1.16.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the sale, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Several brokerages have recently weighed in on AMGN. Morgan Stanley set a $70.00 price objective on shares of Edison International and gave the stock a “hold” rating in a report on Monday, July 15th. Mizuho set a $21.00 price target on Neon Therapeutics and gave the stock a “buy” rating in a report on Monday, July 1st. Royal Bank of Canada reiterated a “neutral” rating and issued a $192.00 price target on shares of Amgen in a research report on Tuesday, May 21st. Credit Suisse Group started coverage on Regeneron Pharmaceuticals in a research report on Monday, May 20th. They issued a “neutral” rating and a $336.00 price target on the stock. Finally, Oppenheimer set a $210.00 price target on Amgen and gave the company a “buy” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Amgen currently has an average rating of “Buy” and an average target price of $210.29.

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, 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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Earnings History for Amgen (NASDAQ:AMGN)

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