Amgen (AMGN) Advances While Market Declines: Some Information for Investors

Amgen (AMGN) closed the most recent trading day at $260.64, moving +0.52% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.9%.Shares of the world's largest biotech drugmaker witnessed a loss of 6.76% over the previous month, beating the performance of the Medical sector with its loss of 7.03% and underperforming the S&P 500's loss of 1.98%.Investors will be eagerly watching for the performance of Amgen in its upcoming earnings disclosure. The company is expected to report EPS of $4.97, up 5.52% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.82 billion, up 7.66% from the prior-year quarter.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.53 per share and a revenue of $33.16 billion, representing changes of +4.72% and +17.65%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for Amgen. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.11% rise in the Zacks Consensus EPS estimate. At present, Amgen boasts a Zacks Rank of #3 (Hold).Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 13.27. This expresses a discount compared to the average Forward P/E of 23.98 of its industry.Also, we should mention that AMGN has a PEG ratio of 2.76. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.69 as of yesterday's close.The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amgen Inc. (AMGN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks