Amgen (NASDAQ:AMGN) Posts Earnings Results, Beats Estimates By $0.20 EPS

Amgen (NASDAQ:AMGN) issued its earnings results on Thursday. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20, Briefing.com reports. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter last year, the company earned $3.98 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. Amgen updated its FY24 guidance to $19.00 to $20.20 EPS.

Amgen Trading Up 11.8 %

NASDAQ AMGN opened at $311.29 on Friday. The stock has a market cap of $166.97 billion, a P/E ratio of 44.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Amgen has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The stock has a 50 day simple moving average of $274.95 and a two-hundred day simple moving average of $281.50. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen’s dividend payout ratio is presently 128.57%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group raised their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday. The Goldman Sachs Group upped their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $305.05.

About Amgen

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.