Amgen (AMGN) Outpaces Stock Market Gains: What You Should Know

In the latest close session, Amgen (AMGN) was up +1.22% at $331.39. The stock exceeded the S&P 500, which registered a gain of 0.64% for the day. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.52%. Heading into today, shares of the world's largest biotech drugmaker had lost 3.01% over the past month, lagging the Medical sector's gain of 2.25% and the S&P 500's gain of 3%.The upcoming earnings release of Amgen will be of great interest to investors. It is anticipated that the company will report an EPS of $4.73, marking a 10.92% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.47 billion, indicating a 4.2% upward movement from the same quarter last year. For the full year, the Zacks Consensus Estimates project earnings of $21.27 per share and a revenue of $36.36 billion, demonstrating changes of +7.21% and +8.78%, respectively, from the preceding year. Investors should also note any recent changes to analyst estimates for Amgen. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. Amgen is currently sporting a Zacks Rank of #3 (Hold). Investors should also note Amgen's current valuation metrics, including its Forward P/E ratio of 15.39. This expresses a discount compared to the average Forward P/E of 18.56 of its industry. Also, we should mention that AMGN has a PEG ratio of 3.11. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices. The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 37% of over 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. You can find more information on all of these metrics, and much more, on Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks