Amgen Inc. (AMGN) Releases FY16 Earnings Guidance

Amgen Scientist

The company provided earnings per share (EPS) guidance of $11.40-$11.55 for the period, compared to the Thomson Reuters consensus estimate of $11.35. Amgen's dependence on legacy products is coming back to haunt them, and though their cash flow is very strong, and their financial position impeccable, their lack of growth drivers to offset ongoing or imminent erosion of Epogen, Aranesp, Neupogen, Neulasta and Enbrel ($15bn of $22.8bn total revenue this year) means that the stock is likely to come under pressure from both negative estimate revisions and multiple compression. Aberdeen Asset Management PLC UK now owns 477,021 shares of the medical research company's stock valued at $72,578,000 after buying an additional 18,446 shares in the last quarter.

Net profit rose to $2.02 billion, or $2.68 per share, from $1.86 billion, or $2.44 per share, a year ago.

Amgen Inc. (Amgen) is a biotechnology company. Separately, on September 29, Credit Suisse's Alethia Young reiterated a Buy rating on the stock and has a price target of $203.

Analyst's Analysis on Amgen Inc. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. When considering if perhaps the stock is under or overvalued, the average price target is $190.88 which is 25.8% above where the stock opened today.

Amgen Inc. has a 52-week low of $139.02 and a 52-week high of $176.85.

AMGN stock was down 9% as of Friday morning. Integrated Wealth Management now owns 930 shares of the medical research company's stock valued at $141,000 after buying an additional 3 shares in the last quarter. At the moment the price is -4.77% below its 50-day moving average and 2.06% above its 200-day moving average. Amgen makes up approx 0.12% of Prospera Financial Services Inc's portfolio.

Amgen Inc. (AMGN) reported 3Q earnings of $2.02 billion, or $2.68 per share, on revenue of $5.81 billion.

Amgen, Inc. reported earnings per share of $3.02 for the third quarter of 2016. The firm earned $5.81 billion during the quarter, compared to analysts' expectations of $5.73 billion.

Amgen expects 2016 revenues of $22.6 billion to $22.8 billion, marginally above the $22.5 billion to $22.8 billion it had previously projected.

Leerink estimates that Enbrel price increases generated more than 80% of the company's operating income growth for the last six quarters. Analysts expect that Amgen Inc. will post $11.36 EPS for the current year. The board of directors declared a dividend of $1.00 per share on October 14 that will be paid on December 8 to all stockholders of record as of November 16.