Earnings Headlines - Amgen
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LONDON, August 4, 2014 /PRNewswire/ --
Investor-Edge.com has issued complimentary earnings coverage on Amgen Inc. (NASDAQ: AMGN) as the company featured in the headlines on Tuesday, July 29, 2014. Amgen Inc. reported 11% Y-o-Y growth in total revenues, while adjusted earnings per share (EPS) increased 25% in the second quarter of 2014, outperforming market expectations. Our free coverage report can be accessed at:
http://www.investor-edge.com/register
Earnings Overview
For the second quarter of 2014, Amgen Inc. reported 8% Y-o-Y growth in product sales, driven by strong performance across its portfolio. The company also reported adjusted net income of $1.82 billion, or $2.37 per diluted share, compared with $1.44 billion, or $1.89 per diluted share in the year ago period. The global biotech company generated $2.1 billion of free cash flow in the second quarter of 2014, above the $1.4 billion in the prior year's quarter. During the same quarter, cost of sales margin, excluding the impact of the Puerto Rico excise tax, was basically flat year-over-year. The company's Research & Development (R&D) expenses during the quarter increased 4% year-over-year. The free research on AMGN can be downloaded as in PDF format at:
http://www.Investor-Edge.com/AMGNFreeReport
Robert A. Bradway, Amgen's Chairman and Chief Executive Officer, said that the company's robust growth through the first half of 2014 affirms the underlying strength of its business. The Chairman further stated that the company is making excellent progress in advancing its pipeline as the company prepares to launch a number of promising new innovative medicines. Mr. Bradway asserted that the recently announced restructuring initiatives will allow the company to reallocate resources to invest in the upcoming launches and to drive growth.
The biotech major reported revenue of $5.18 billion during the second quarter of 2014, compared with $4.68 billion in the prior year's comparable quarter. The Thousand Oaks, California-based company's GAAP net income stood at $1.55 billion, or $2.01 per diluted share during Q2 2014, above $1.26 billion, or $1.65 per diluted share in the second quarter 2013. Analyst at Bloomberg expected revenue of $4.9 billion and GAAP net income of $1.40 billion, or $2.01 per diluted share for Q2 2014. Sign up and read the free analyst's notes on AMGN at:
http://www.Investor-Edge.com/AMGN-04082014
On July 25, 2014, the company announced second quarter 2014 dividend of $0.61 per share payable on September 5, 2014, to all stockholders of record as of the close of business on August 14, 2014.
Stock Performance
Amgen Inc.'s shares rallied 5.43% to close at $130.01 on Wednesday, July 30, 2014, a day after the earnings release. However, on Friday, August 1, 2014, the company's shares lost 1.44% to end at $125.55. The company's shares oscillated between $124.76 and $127.30 during the trading session. A total of 4.54 million shares were traded, which is higher than its three months average volume of 3.02 million shares. Amgen Inc.'s shares have advanced 1.82% in the previous three trading sessions, 2.20% in the last one month, and 10.05% on YTD basis. The company is trading above its 50-day and 200-day moving averages of $119.02 and $117.69, respectively. The stock traded at a PE ratio of 16.36 and has a Relative Strength Index (RSI) of 60.61. Visit Investor-Edge and access the latest research on AMGN at:
http://www.Investor-Edge.com/AMGNEarningsCoverage
Sneak Peek to Corporate Insider Trading
In the last one month, two insiders sold 6,677 shares of Amgen Inc., worth $846,161.70. On June 30, 2014, Officer, Michael A. Kelly, sold 1,919 shares, worth $227,574; while, Officer, Balachandran Madhavan, disposed of 4,758 shares, worth $618,587.70 on July 31, 2014. Complimentary in-depth research on AMGN is available at:
http://www.Investor-Edge.com/AMGNInsiderTrading
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