Amgen (AMGN) Releases Earnings Results, Beats Expectations By $0.10 EPS

Amgen (AMGN) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $2.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $2.74. The company posted revenue of $5688.00 million in the period, compared to analysts expectations of $5579.33 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS.

Many Wall Street Analysts have commented on Amgen. Amgen was Initiated by Bernstein to “Mkt Perform” on Jun 29, 2016.

Amgen opened for trading at $168.93 and hit $171.8 on the upside on Thursday, eventually ending the session at $171.28, with a gain of 0.35% or 0.6 points. The heightened volatility saw the trading volume jump to 51,90,000 shares. Company has a market cap of $128,668 M.

In a different news, on May 5, 2016, Madhavan Balachandran (EVP, Operations) sold 30,000 shares at $154.12 per share price. According to the SEC, on May 3, 2016, Sean E Harper (EVP, Research & Development) sold 21,875 shares at $157.99 per share price. On May 3, 2016, David Baltimore (director) sold 3,312 shares at $157.21 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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