Amgen Inc. (AMGN) – Strong volume growth

Amgen Inc. (AMGN) (Q2FY23)

Stock Performance – Amgen stock price showed an upward trend in the past 3-month period. The stock has a 52-week high of $296.67 and its 52-week low is $211.71.

In the past 3 years, the stock has given returns of 2.26%. The stock has a 52-week high of $296.67 and its 52-week low is $211.71. In the past 3 years, the stock has given returns of 2.26%.

AMGN has a 50-day moving Avg. and 200-day moving Avg. of $243.65 and
$245.29, respectively.

Quarter Performance: AMGN revenues increased 6% to $7bn in comparison to the second quarter of 2022, resulting from a 6% increase in product sales. Product sales growth was driven by 11% volume growth, partially offset by 2% lower net selling price, 1% lower inventory levels and 1% negative impact from foreign exchange. Excluding the 1% negative impact of foreign exchange on product sales, total revenues increased 7%.

Company Guidance for FY23 – AMGN expect total revenues in the range of $26.6bn to $27.4bn. On a GAAP basis, EPS is expected in the range of $14.30 to $15.41, and a tax rate in the range of 17% to 18.5%.

On a non-GAAP basis, EPS in the range of $17.80 to $18.80, and a tax rate in the range of 17.5% to 18.5%. Capital expenditures to be ~$925mn.

Highlights

Amgen is well-positioned in the biotech sector with a robust pipeline of promising cancer drugs. With a solid cash position, the company has the potential to acquire additional pipeline assets, reinforcing its long-term growth prospects.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– PE Band Comparison
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 40

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