Amgen (NASDAQ:AMGN) Announces Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Amgen (NASDAQ:AMGN – Get Rating) released its quarterly earnings results on Thursday. The medical research company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.25, Briefing.com reports. Amgen had a return on equity of 188.78% and a net margin of 24.92%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the prior year, the firm posted $4.38 EPS. Amgen’s quarterly revenue was up 1.0% compared to the same quarter last year. Amgen updated its FY22 guidance to $17.00 to $18.00 EPS and its FY 2022 guidance to $17.00-$18.00 EPS.

Amgen Trading Down 0.3 %

NASDAQ AMGN opened at $246.25 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 39.31. The firm has a market cap of $131.55 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56. The company has a 50 day moving average price of $245.14 and a 200 day moving average price of $239.83. Amgen has a 52 week low of $198.64 and a 52 week high of $258.45.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be paid a dividend of $1.94 per share. The ex-dividend date is Wednesday, August 17th. This represents a $7.76 annualized dividend and a dividend yield of 3.15%. Amgen’s dividend payout ratio (DPR) is presently 65.76%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $290.00 price target on shares of Amgen in a report on Friday, June 24th. Piper Sandler increased their target price on Amgen from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 16th. Mizuho increased their target price on Amgen from $202.00 to $208.00 in a research note on Tuesday, May 10th. Finally, BMO Capital Markets reduced their target price on Amgen from $263.00 to $243.00 in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $250.00.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the completion of the transaction, the executive vice president now owns 37,333 shares in the company, valued at approximately $9,027,492.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Amgen news, EVP Jonathan P. Graham sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the transaction, the executive vice president now owns 37,333 shares in the company, valued at approximately $9,027,492.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Sanders Williams sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the transaction, the director now owns 5,501 shares in the company, valued at approximately $1,375,250. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Amgen

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amgen by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after acquiring an additional 94,565 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Amgen by 164.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after buying an additional 832,885 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in Amgen by 33.3% during the first quarter. Ensign Peak Advisors Inc now owns 236,710 shares of the medical research company’s stock worth $57,241,000 after buying an additional 59,155 shares in the last quarter. Cowa LLC boosted its holdings in Amgen by 11,454.5% during the first quarter. Cowa LLC now owns 230,512 shares of the medical research company’s stock worth $557,000 after buying an additional 228,517 shares in the last quarter. Finally, Edgar Lomax Co. VA boosted its holdings in Amgen by 54.3% during the first quarter. Edgar Lomax Co. VA now owns 215,545 shares of the medical research company’s stock worth $52,123,000 after buying an additional 75,885 shares in the last quarter. 79.01% of the stock is owned by hedge funds and other institutional investors.

Amgen Company Profile

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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 that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.