Health and Healthcare
Amgen Beats Earnings With Solid Outlook For 2015
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The fourth quarter 2015 dividend of $0.79 per share declared on Oct. 14, will be paid on Dec. 7, to all stockholders of record as of the close of business on Nov. 16. During the third quarter, Amgen repurchased 4.6 million shares of common stock at a total cost of $700 million.
In terms of guidance the company now expects 2015 full year EPS in the range of $9.95 to $10.10 revenues in the range of $21.4 billion to $21.6 billion. There are consensus estimates of $9.76 in EPS on $21.25 billion in revenue.
As for its segments, Amgen reported:
Robert A. Bradway, Chairman and CEO of Amgen, commented on earnings:
We delivered record revenues, adjusted earnings and cash flow in the third quarter, while improving our operating margins and investing in six exciting new product launches. With several innovative medicines still in development, we are well on the way to achieving our long-term objectives for shareholders and patients alike.
In this quarter, the company generated $2.7 billion of free cash flow compared to $2.6 billion in the third quarter of 2014. On the books, Amgen had cash and cash equivalents totaling $31.12 billion compared to $27.03 billion at the end of December 2014.
Shares of Amgen closed Wednesday up 0.4% at $162.62, with a consensus analyst price target of $184.83 and a 52-week trading range of $130.09 to $181.81. Following the release of the earnings report, shares were up 0.7% at $163.75 in the after-hours trading session.
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