Amgen (NASDAQ:AMGN – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, January 31st. Analysts expect Amgen to post earnings of $4.02 per share for the quarter. Amgen has set its FY 2022 guidance at $17.25-$17.85 EPS and its FY22 guidance at $17.25 to $17.85 EPS.Individual that wish to listen to the company's earnings conference call can do so using this link.
Amgen (NASDAQ:AMGN – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $0.27. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. Amgen's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.67 earnings per share. On average, analysts expect Amgen to post $18 EPS for the current fiscal year and $18 EPS for the next fiscal year.
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Amgen Price Performance
Shares of NASDAQ:AMGN opened at $253.65 on Friday. The firm has a market cap of $135.34 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67. The firm's fifty day moving average is $271.35 and its 200-day moving average is $257.06. The company has a debt-to-equity ratio of 10.17, a quick ratio of 1.35 and a current ratio of 1.68. Amgen has a 52 week low of $214.39 and a 52 week high of $296.67.
Amgen Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 8th. Stockholders of record on Wednesday, February 15th will be issued a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a positive change from Amgen's previous quarterly dividend of $1.94. Amgen's payout ratio is 62.23%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Amgen from $250.00 to $285.00 and gave the company an "equal weight" rating in a report on Tuesday, January 3rd. Barclays boosted their target price on shares of Amgen from $234.00 to $240.00 and gave the company an "underweight" rating in a report on Wednesday, January 18th. Credit Suisse Group assumed coverage on shares of Amgen in a report on Thursday, November 17th. They issued an "underperform" rating and a $240.00 target price on the stock. Oppenheimer boosted their target price on shares of Amgen from $300.00 to $310.00 and gave the company an "outperform" rating in a report on Tuesday, December 6th. Finally, StockNews.com lowered shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Thursday. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $253.57.
Insider Activity
In other news, SVP Nancy A. Grygiel sold 545 shares of the business's stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares of the company's stock, valued at $3,818,661.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company's stock.
Institutional Investors Weigh In On Amgen
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cowa LLC grew its position in Amgen by 11,454.5% in the 1st quarter. Cowa LLC now owns 230,512 shares of the medical research company's stock worth $557,000 after purchasing an additional 228,517 shares in the last quarter. Merit Financial Group LLC boosted its stake in Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company's stock valued at $555,000 after acquiring an additional 647 shares during the last quarter. Symphony Financial Ltd. Co. purchased a new position in Amgen in the first quarter valued at about $519,000. Aspire Capital Advisors LLC purchased a new position in Amgen in the first quarter valued at about $392,000. Finally, Eudaimonia Partners LLC purchased a new position in Amgen in the first quarter valued at about $361,000. 75.53% of the stock is owned by institutional investors.
About Amgen
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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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