Amgen (AMGN) Releases Earnings Results, Beats Expectations By $0.29 EPS

Amgen (AMGN) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $2.90 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.29. Analysts had a consensus of $2.61. The company posted revenue of $5527.00 million in the period, compared to analysts expectations of $5321.84 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS.

Many Wall Street Analysts have commented on Amgen. Citigroup Initiated Amgen on Feb 25, 2016 to “Neutral”, Price Target of the shares are set at $165.Shares were Reiterated by Argus on Feb 8, 2016 to “Buy” and Lowered the Price Target to $ 185 from a previous price target of $202 .

Amgen closed down -1.85 points or -1.14% at $161 with 27,29,473 shares getting traded on Wednesday. Post opening the session at $162.72, the shares hit an intraday low of $160.5 and an intraday high of $162.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Mar 2, 2016, Amgen announced a cash dividend of $1.0000. The company’s management has announced May 13, 2016 as the ex-dividend date and fixed the record date on May 17, 2016. The payable date has been fixed on Jun 8, 2016.

In a different news, on Mar 4, 2016, Robert A Bradway (Chairman, CEO and President) sold 20,000 shares at $146.48 per share price. According to the SEC, on Sep 2, 2015, Carbonnel Francois De (director) sold 5,000 shares at $153.84 per share price. On Aug 20, 2015, Fred Hassan (director) purchased 3,010 shares at $166.07 per share price, according to the Form-4 filing with the securities and exchange commission.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering developing manufacturing and delivering human therapeutics. The Company’s sales and marketing forces are located in the United States and Europe. In the United States it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising as well as through the Internet. Outside the United States the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Company’s products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim) Enbrel (etanercept) XGEVA/Prolia (denosumab) ESAs (erythropoiesis-stimulating agents) Sensipar/Mimpara (cinacalcet) Kyprolis and Evolocumab among others.


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