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Also traded in: Argentina, Brazil, Chile, Germany, Hongkong, Mexico, Switzerland, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 1.08
NAS:AMGN's Cash to Debt is ranked lower than
80% of the 963 Companies
in the Global Biotechnology industry.

( Industry Median: 83.29 vs. NAS:AMGN: 1.08 )
Ranked among companies with meaningful Cash to Debt only.
NAS:AMGN' s Cash to Debt Range Over the Past 10 Years
Min: 0.32  Med: 1.03 Max: 8.25
Current: 1.08
0.32
8.25
Equity to Asset 0.39
NAS:AMGN's Equity to Asset is ranked lower than
77% of the 711 Companies
in the Global Biotechnology industry.

( Industry Median: 0.67 vs. NAS:AMGN: 0.39 )
Ranked among companies with meaningful Equity to Asset only.
NAS:AMGN' s Equity to Asset Range Over the Past 10 Years
Min: 0.33  Med: 0.56 Max: 0.84
Current: 0.39
0.33
0.84
Interest Coverage 13.36
NAS:AMGN's Interest Coverage is ranked lower than
83% of the 478 Companies
in the Global Biotechnology industry.

( Industry Median: 10000.00 vs. NAS:AMGN: 13.36 )
Ranked among companies with meaningful Interest Coverage only.
NAS:AMGN' s Interest Coverage Range Over the Past 10 Years
Min: 5.3  Med: 8.46 Max: 29.77
Current: 13.36
5.3
29.77
F-Score: 8
Z-Score: 2.59
M-Score: -2.52
WACC vs ROIC
11.22%
28.50%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 10/10

vs
industry
vs
history
Operating margin (%) 41.41
NAS:AMGN's Operating margin (%) is ranked higher than
95% of the 745 Companies
in the Global Biotechnology industry.

( Industry Median: -81.51 vs. NAS:AMGN: 41.41 )
Ranked among companies with meaningful Operating margin (%) only.
NAS:AMGN' s Operating margin (%) Range Over the Past 10 Years
Min: 26.91  Med: 31.86 Max: 41.41
Current: 41.41
26.91
41.41
Net-margin (%) 33.63
NAS:AMGN's Net-margin (%) is ranked higher than
93% of the 745 Companies
in the Global Biotechnology industry.

( Industry Median: -76.71 vs. NAS:AMGN: 33.63 )
Ranked among companies with meaningful Net-margin (%) only.
NAS:AMGN' s Net-margin (%) Range Over the Past 10 Years
Min: 20.68  Med: 26.36 Max: 33.63
Current: 33.63
20.68
33.63
ROE (%) 26.05
NAS:AMGN's ROE (%) is ranked higher than
95% of the 875 Companies
in the Global Biotechnology industry.

( Industry Median: -32.93 vs. NAS:AMGN: 26.05 )
Ranked among companies with meaningful ROE (%) only.
NAS:AMGN' s ROE (%) Range Over the Past 10 Years
Min: 14.97  Med: 21.29 Max: 26.05
Current: 26.05
14.97
26.05
ROA (%) 10.20
NAS:AMGN's ROA (%) is ranked higher than
91% of the 967 Companies
in the Global Biotechnology industry.

( Industry Median: -29.03 vs. NAS:AMGN: 10.20 )
Ranked among companies with meaningful ROA (%) only.
NAS:AMGN' s ROA (%) Range Over the Past 10 Years
Min: 7.63  Med: 9.3 Max: 12.11
Current: 10.2
7.63
12.11
ROC (Joel Greenblatt) (%) 153.95
NAS:AMGN's ROC (Joel Greenblatt) (%) is ranked higher than
95% of the 927 Companies
in the Global Biotechnology industry.

( Industry Median: -368.19 vs. NAS:AMGN: 153.95 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
NAS:AMGN' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: 61.87  Med: 79.34 Max: 153.95
Current: 153.95
61.87
153.95
Revenue Growth (3Y)(%) 8.80
NAS:AMGN's Revenue Growth (3Y)(%) is ranked higher than
58% of the 484 Companies
in the Global Biotechnology industry.

( Industry Median: 4.50 vs. NAS:AMGN: 8.80 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
NAS:AMGN' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: 5.8  Med: 15.1 Max: 29.2
Current: 8.8
5.8
29.2
EBITDA Growth (3Y)(%) 19.90
NAS:AMGN's EBITDA Growth (3Y)(%) is ranked higher than
73% of the 520 Companies
in the Global Biotechnology industry.

( Industry Median: 1.10 vs. NAS:AMGN: 19.90 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
NAS:AMGN' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -1.6  Med: 15.7 Max: 25.2
Current: 19.9
-1.6
25.2
EPS Growth (3Y)(%) 18.00
NAS:AMGN's EPS Growth (3Y)(%) is ranked higher than
75% of the 510 Companies
in the Global Biotechnology industry.

( Industry Median: -4.90 vs. NAS:AMGN: 18.00 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
NAS:AMGN' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: 2.3  Med: 17.2 Max: 22.1
Current: 18
2.3
22.1
» NAS:AMGN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q4 2015

AMGN Guru Trades in Q4 2015

Louis Moore Bacon 125,000 sh (New)
Pioneer Investments 193,844 sh (+222.48%)
George Soros 4,400 sh (+109.52%)
First Eagle Investment 957,656 sh (+73.61%)
Paul Tudor Jones 8,029 sh (+18.07%)
David Carlson 490,000 sh (+4.26%)
Ken Fisher 136,400 sh (+2.07%)
PRIMECAP Management 29,177,226 sh (unchged)
Ruane Cunniff 2,017 sh (unchged)
Lee Ainslie 1,680 sh (unchged)
Samuel Isaly 396,000 sh (unchged)
Andreas Halvorsen Sold Out
Ray Dalio Sold Out
John Burbank Sold Out
John Buckingham 58,522 sh (-0.56%)
Mairs and Power 11,091 sh (-0.67%)
Vanguard Health Care Fund 5,398,985 sh (-3.25%)
Mario Gabelli 39,175 sh (-3.39%)
Dodge & Cox 46,644 sh (-3.52%)
Daniel Loeb 9,042,900 sh (-8.19%)
RS Investment Management 3,758 sh (-8.27%)
Joel Greenblatt 276,751 sh (-31.85%)
First Pacific Advisors 35,640 sh (-33.08%)
Jeremy Grantham 355,863 sh (-38.58%)
Jim Simons 146,500 sh (-90.64%)
John Hussman 900 sh (-97.75%)
» More
Q1 2016

AMGN Guru Trades in Q1 2016

Jim Simons 481,200 sh (+228.46%)
Lee Ainslie 3,460 sh (+105.95%)
First Eagle Investment 1,235,154 sh (+28.98%)
Joel Greenblatt 323,405 sh (+16.86%)
David Carlson 500,000 sh (+2.04%)
PRIMECAP Management 29,181,826 sh (+0.02%)
John Hussman 900 sh (unchged)
RS Investment Management 3,758 sh (unchged)
Ruane Cunniff Sold Out
Louis Moore Bacon Sold Out
First Pacific Advisors Sold Out
George Soros Sold Out
Vanguard Health Care Fund 5,241,755 sh (-2.91%)
John Buckingham 56,652 sh (-3.20%)
Mario Gabelli 37,210 sh (-5.02%)
Dodge & Cox 43,557 sh (-6.62%)
Mairs and Power 9,916 sh (-10.59%)
Ken Fisher 112,693 sh (-17.38%)
Pioneer Investments 157,866 sh (-18.56%)
Paul Tudor Jones 5,300 sh (-33.99%)
Jeremy Grantham 154,015 sh (-56.72%)
Daniel Loeb 3,000,000 sh (-66.82%)
Samuel Isaly 303,000 sh (-23.48%)
» More
Q2 2016

AMGN Guru Trades in Q2 2016

Ray Dalio 38,300 sh (New)
Third Avenue Management 135,642 sh (New)
Manning & Napier Advisors, Inc 69,758 sh (New)
Keeley Asset Management Corp 1,325 sh (New)
Jim Simons 1,176,445 sh (+144.48%)
Joel Greenblatt 485,933 sh (+50.26%)
Lee Ainslie 3,940 sh (+13.87%)
Paul Tudor Jones 5,669 sh (+6.96%)
Samuel Isaly 402,800 sh (+32.94%)
RS Investment Management 3,758 sh (unchged)
John Hussman 900 sh (unchged)
Mairs and Power 9,916 sh (unchged)
Daniel Loeb Sold Out
John Buckingham 56,382 sh (-0.48%)
Vanguard Health Care Fund 5,190,355 sh (-0.98%)
PRIMECAP Management 28,634,341 sh (-1.88%)
Mario Gabelli 36,325 sh (-2.38%)
Dodge & Cox 41,257 sh (-5.28%)
David Carlson 460,000 sh (-8.00%)
Ken Fisher 101,573 sh (-9.87%)
Pioneer Investments 125,883 sh (-20.26%)
First Eagle Investment 936,565 sh (-24.17%)
Jeremy Grantham 2,799 sh (-98.18%)
» More
Q3 2016

AMGN Guru Trades in Q3 2016

Richard Pzena 1,196 sh (New)
George Soros 3,506 sh (New)
Paul Tudor Jones 21,333 sh (+276.31%)
Jim Simons 1,896,341 sh (+61.19%)
Ken Fisher 102,794 sh (+1.20%)
John Hussman 900 sh (unchged)
David Carlson 460,000 sh (unchged)
Mairs and Power 9,916 sh (unchged)
Keeley Asset Management Corp 1,325 sh (unchged)
Ray Dalio Sold Out
Samuel Isaly Sold Out
Third Avenue Management 134,226 sh (-1.04%)
John Buckingham 55,692 sh (-1.22%)
Manning & Napier Advisors, Inc 68,495 sh (-1.81%)
Dodge & Cox 40,157 sh (-2.67%)
PRIMECAP Management 26,560,551 sh (-7.24%)
Lee Ainslie 3,630 sh (-7.87%)
Jeremy Grantham 2,399 sh (-14.29%)
Mario Gabelli 22,425 sh (-38.27%)
Joel Greenblatt 269,204 sh (-44.60%)
Vanguard Health Care Fund 2,759,552 sh (-46.83%)
First Eagle Investment 369,976 sh (-60.50%)
Pioneer Investments 1,554 sh (-98.77%)
» More
» Details

Insider Trades

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Business Description

Industry: Biotechnology » Biotechnology
Compare:NAS:GILD, NAS:CELG, OTCPK:NONOF, NAS:BIIB, OTCPK:SHPGF, NAS:REGN, OTCPK:CSLLY, NAS:ALXN, OTCPK:RHHBY, NAS:VRTX, NAS:INCY, OTCPK:ALIOY, NAS:BMRN, OTCPK:GIKLY, NAS:MDVN, OTCPK:UCBJY, OTCPK:GMXAY, OTCPK:NVZMF, NAS:SGEN, NAS:ALKS » details
Traded in other countries:AMGN.Argentina, AMGN34.Brazil, AMGN.Chile, AMG.Germany, 04332.Hongkong, AMG N.Mexico, AMGN.Switzerland, 0R0T.UK,
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. It operates in one business segment being human therapeutics.

Amgen Inc was incorporated in the State of Delaware on October 31, 1986. It is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. It operates in one business segment being human therapeutics. Its Cardiovascular products include Repatha, Corlanor, Inflammation products include Brodalumab, Nephrology, Oncology products include BLINCYTO, Kyprolis, Neulasta, Rilotumumab, Talimogene laherparepvec, Trebananib, Biosimilars, among others. Its geographic areas of operations include USA, Europe and Canada. Certain raw materials, medical devices and components necessary for the commercial and/or clinical manufacturing of the Company's products are provided by and are the proprietary products of unaffiliated third-party suppliers, certain of which may be its only sources for such materials. The Company's sales and marketing forces are mainly located in the United States and Europe. Together with its partners, the Company markets its products to healthcare providers, including physicians or their clinics, dialysis centers, hospitals and pharmacies. In the United States, the Company sells to pharmaceutical wholesale distributors. The Company's competitors include Teva Pharmaceutical Industries Ltd., Janssen Biotech, Inc., AbbVie Inc., Merck & Company, Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Eli Lilly/Bristol-Myers Squibb Company, Merck KGaA, Genentech, Inc., GlaxoSmithKline PLC, Millennium Pharmaceuticals, Inc., and Celgene Corporation. Some of the Company's patents include Neulasta, NEUPOGEN, Enbrel, XGEVA, Prolia, EPOGEN, Aranesp, Sensipar, Mimpara, Kyprolis, Nplate, Vectibix, and BLINCYTO. The Company's business has been and will continue to be subject to various other U.S. and foreign laws, rules and/or regulations.

Guru Investment Theses on Amgen Inc

Third Avenue Fund Comments on Amgen - Sep 14, 2016

Livallova

Investor neglect can be a source of new ideas while also providing an element of downside protection. We found this combination to be compelling in our purchase of Livallova (NASDAQ:LIVN), which is the new name for Sorin and Cyberonics post their late-2015 merger. We think investor neglect was paramount, for Sorin, an Italian company, which merged with Cyberonics, based in Houston, changed its name and reincorporated in London. Indeed, we came across the company on a screen of our potential universe of companies, and had to do some digging into the new name we did not recognize, to realize the potential for these two well-known companies and the significant potential their merger offers.

Livallova is a healthcare company with a $3 billion market capitalization that holds leading positions in cardiac surgical equipment, surgical heart valve replacement, neuromodulation and cardiac rhythm management. In its cardiac surgery division, Livallova holds number one positions in Oxygenators and Heart Lung machines. It also is rapidly gaining share with its new sutureless Perceval heart valve, with a history of successful procedures in Europe and recently approved in the U.S. In Neuromodulation, Livallova holds the number one position in devices for the treatment of drug resistant epilepsy, led by its success with its AspireSR device. Livallova is also rapidly gaining share in cardiac rhythm management with Kora250 and Platinium in Japan and Europe, while retaining options on strategies to re-enter the U.S. market. In all, Livallova holds number one positions in over 60% of its revenues.

Livallova also has a strong self-help profile, with targeted synergies from its merger of $80 million over three years. As of its second quarter earnings call, Livallova indicated it was ahead of the first phase of $19 million expected in 2016. Creditworthiness for the company is easily demonstrated by net debt of roughly $75 million.

The ability to compound earnings and book value growth is not only supported by its new product introductions and merger synergies, but also its compelling research and development pipeline, which Livallova refers to as its New Ventures unit. In this unit, Livallova is pursuing groundbreaking new technologies in percutaneous mitral valve repair and replacement, the adaption of its Neuromodulation technologies for treatment of central and obstructive sleep apnea and also the potential to treat heart failure through vagus nerve stimulation. Not only is the potential market opportunity for all three of these areas separately in excess of a billion dollars, but through its merger, Livallova has multiple research efforts in each area to evaluate, streamline and prioritize.

Brexit created a window to initiate a position at under $50 per share for the Fund, which represents a compelling 50% upside to our fair value NAV target. Perhaps due to investor neglect on the name, Livallova trades at a substantial discount to its U.S. peers. We think this discount and its relatively smaller market capitalization also provide downside protection, for the company would likely be attractive to a larger entity looking to expand its product franchise.



From Third Avenue Value Fund's third quarter 2016 letter.



Check out Third Avenue Management,Martin Whitman latest stock trades

Third Avenue Fund Comments on Amgen - Sep 14, 2016

Amgen (NASDAQ:AMGN), which was founded in 1980, is one of the world's leading biotechnology companies. Interestingly, the biotech industry has matured over the years and some of the companies generate stable cash flows, not unlike some of the larger pharmaceutical companies. Amgen is one of these. Competitive issues, largely surrounding the biosimilar debate, have put pressure on Amgen's stock. Post-Brexit market volatility provided us an opportunity to acquire shares.

Amgen has a diversified product portfolio across six therapeutic areas: oncology/hematology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience. Its key products are Enbrel for long-term inflammatory diseases such as rheumatoid arthritis; Epogen and Aranesp for anemia; Neupogen and Neulasta for treating neutropenia (a lack of certain white blood cells caused by cancer, bone marrow transplant, or after chemotherapy). Newer drugs include Repatha, which targets high cholesterol for the roughly 20% of the population who are intolerant of statins (the typical first line treatment), and Kyprolis for multiple myeloma, an incurable bone cancer. Its pipeline consists of 31

preclinical and clinical targets, 12 of which are in the later stages. Amgen also has a pipeline of 9 biosimilars, of which 3 are in late stage and for which the worldwide sales of the originator drugs totaled approximately $54 billion in 2015.

The company generated $9 billion in operating cash flow in 2015, up from $5.1 billion in 2011. The company has used its excess cash flow to fund growth as well as return cash to shareholders via both share buybacks and dividends. It expects to return 60% of adjusted net income to shareholders by 2018.

Amgen has longer-term opportunities for margin improvement from synergies and cost controls. The company initiated a large-scale "transformation" program in 2013 to focus on efficient allocation of resources. The plan included an approximately 23% reduction in its facilities footprint and a 20% reduction in headcount by the end of 2015, with a goal of generating $1.5 billion of annual savings and a 15-point increase in adjusted operating margin by 2018. So far, the company's adjusted operating margin has increased from 38% in 2013 to 48% in 2015 and 55% in 1Q16. Management believes it is on a path to achieve 52-54% by 2018. In addition, the company's new next-generation bio-manufacturing facility is on track. The facility is expected to increase bulk production capabilities at a quarter of capital costs, 1/3 of operating costs and 2x speed vs. conventional facilities, resulting in an estimated cost reduction of 60%+ per gram of protein.

Competitive threats confront any company and even more so for biotech and pharma companies as their products face patent expirations. Biosimilar products are newer to the marketplace and the regulatory pathway is still evolving, with questions of interchangeability with the branded drug still progressing. Biologics are scientifically more challenging than small molecule generic development, more costly to develop and require high-quality complex manufacturing. Price discounting to date has been substantially less than small molecule generics, but may vary over the longer-term. As such, we look to acquire shares at a reasonable estimate of the company's base business without giving much credit to the pipeline. We believe this provides downside protection for the competitive threats while providing opportunity for upside given the growing pipeline. We took advantage of volatility during the quarter to acquire shares of Amgen common at around a 25% discount to our estimate of NAV.



From Third Avenue Value Fund's third quarter 2016 letter.



Check out Third Avenue Management,Martin Whitman latest stock trades

Vanguard Health Care Fund Comments on Amgen Inc - Mar 27, 2015

We trimmed our position in Amgen (AMGN), a U.S.-based global biotechnology company that discovers, develops, manufactures, and delivers human therapeutics. The stock was a strong performer in the latter half of 2014 given restructuring efforts to focus more attention on research and development.

From Vanguard Health Care Fund (Trades, Portfolio) 2014 Annual Report

Check out Vanguard Health Care Fund latest stock trades

Daniel Loeb Comments on Amgen Inc - Feb 10, 2015

Equity Position: Amgen (AMGN)

Our biggest winner in 2014 was our equity position in the biotechnology company Amgen. In our last letter and at the Robin Hood Investment Conference, we highlighted Amgen as a hidden value situation where investor skepticism in three areas – R&D productivity, operating efficiency, and capital allocation – had obscured the company’s fundamental value.

From our perspective, Amgen’s valuation discount to both biotech peers and even slower- growing pharmaceuticals was unwarranted given Amgen’s compelling mix of long-duration, highly cash-generative mature assets and soon-to-launch blockbuster products. To create shareholder value, we made three specific recommendations: 1) focus the company’s R&D efforts; 2) provide long-term margin guidance demonstrating a commitment to reducing a bloated cost structure; and 3) create clarity on additional shareholder returns.

Apparently, Amgen Chairman and CEO Bob Bradway recognized many of the same sources of investor frustration and he has responded with a company-wide transformation initiative. At Amgen’s Analyst Day in October, Mr. Bradway directly addressed two areas of shareholder skepticism: operating margins and capital allocation. The company shared long-term operating margin and cost reduction targets with investors, noting that 2018 spending will not exceed 2013 levels. This expense discipline should help drive operating margins from 38% to at least 52% over that period. In addition, Amgen guided to a 30% increase in its quarterly dividend and accelerated the resumption of its share repurchase program. The long-term vision and discipline presented at the Analyst Day combined with several subsequent positive clinical pipeline events helped Amgen return nearly 45% to shareholders in 2014, the best performance of all mega cap US healthcare companies and Amgen’s highest annual return since 1999.

Even so, we feel this story is still in its early innings and there is still substantially more value for Amgen shareholders to realize. We believe the company can be more aggressive with its share repurchase program, particularly since the stock remains undervalued at current levels. We also remain focused on Amgen’s R&D productivity, given the company’s disappointing returns on its $30 billion in R&D spending over the past decade. While changes to R&D can take longer to implement, we expect that Mr. Bradway will remain attentive to this area. We hope that the company’s recent immuno-oncology partnership with Kite Pharmaceuticals exemplifies Amgen’s increasing efforts to broaden its R&D capabilities in a financially responsible way. Our work suggests further meaningful opportunities exist to improve and optimize internal processes, particularly around decision-making and project selection. Finally, we believe Amgen should provide more granular detail (e.g., R&D spending by therapeutic area) to investors to provide comfort that its current R&D decisions reflect a careful approach to managing capital.

We look forward to continuing to work with the company and our distinguished Third Point Scientific and Medical Advisory Board Members – Dr. David Agus, Dr. Geoff Ginsburg, and Dr. David Parkinson – to further help tune up a world-class engine of scientific discovery and innovation.

From Daniel Loeb (Trades, Portfolio)’s Third Point Q4 2014 Investor Letter.

Check out Daniel Loeb latest stock trades

Top Ranked Articles about Amgen Inc

Vanguard Health Care Fund Sells Amgen, Baxter The guru's largest 3rd-quarter sales
Following its third-quarter report, Vanguard Health Care Fund (Trades, Portfolio) holds 73 stocks with a total value of $46.245 billion. The following are the sales with the largest impacts on its portfolio. Read more...
Third Value Fund Avenue Buys 3 Stocks in 3rd Quarter All three from pharma sector
Third Avenue Management (Trades, Portfolio) reported owning three new stocks in the third quarter, all from the pharmaceutical sector. Read more...
Third Avenue Fund Comments on Amgen Guru stock highlight
Amgen (NASDAQ:AMGN), which was founded in 1980, is one of the world's leading biotechnology companies. Interestingly, the biotech industry has matured over the years and some of the companies generate stable cash flows, not unlike some of the larger pharmaceutical companies. Amgen is one of these. Competitive issues, largely surrounding the biosimilar debate, have put pressure on Amgen's stock. Post-Brexit market volatility provided us an opportunity to acquire shares.

Amgen has a diversified product portfolio across six therapeutic areas: oncology/hematology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience. Its key products are Enbrel for long-term inflammatory diseases such as rheumatoid arthritis; Epogen and Aranesp for anemia; Neupogen and Neulasta for treating neutropenia (a lack of certain white blood cells caused by cancer, bone marrow transplant, or after chemotherapy). Newer drugs include Repatha, which targets high cholesterol for the roughly 20% of the population who are Read more...
Third Avenue Fund Comments on Amgen Guru stock highlight
Livallova

Investor neglect can be a source of new ideas while also providing an element of downside protection. We found this combination to be compelling in our purchase of Livallova (NASDAQ:LIVN), which is the new name for Sorin and Cyberonics post their late-2015 merger. We think investor neglect was paramount, for Sorin, an Italian company, which merged with Cyberonics, based in Houston, changed its name and reincorporated in London. Indeed, we came across the company on a screen of our potential universe of companies, and had to do some digging into the new name we did not recognize, to realize the potential for these two well-known companies and the significant potential their merger offers.

Livallova is a healthcare company with a $3 billion market capitalization that holds leading positions in cardiac surgical equipment, surgical heart valve replacement, neuromodulation and cardiac rhythm management. In its cardiac surgery division, Livallova holds number one positions in Oxygenators Read more...
Daniel Loeb Exits Amgen, Trims Dow Chemical Guru's largest sales of the 2nd quarter
Daniel Loeb (Trades, Portfolio) founded Third Point LLC in 1995 and leads the firm’s research activities, portfolio and risk management. During the second quarter the guru's largest sales were as follows: Read more...
Martin Whitman’s Third Avenue Management Purchases 8 Stocks Second-quarter portfolio
Martin Whitman (Trades, Portfolio)’s investment firm Third Avenue Management (Trades, Portfolio) bought eight new stocks in the second quarter. Read more...
Citigroup, Amgen Are Trading With Wide Margin of Safety A look at undervalued guru stocks
The following are some of the stocks that are trading below the Peter Lynch earnings line, according to GuruFocus' All-in-One Screener. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 14.38
AMGN's P/E(ttm) is ranked higher than
80% of the 298 Companies
in the Global Biotechnology industry.

( Industry Median: 27.49 vs. AMGN: 14.38 )
Ranked among companies with meaningful P/E(ttm) only.
AMGN' s P/E(ttm) Range Over the Past 10 Years
Min: 10.4  Med: 16.62 Max: 30.95
Current: 14.38
10.4
30.95
Forward P/E 11.61
AMGN's Forward P/E is ranked higher than
74% of the 76 Companies
in the Global Biotechnology industry.

( Industry Median: 19.92 vs. AMGN: 11.61 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 14.38
AMGN's PE(NRI) is ranked higher than
79% of the 257 Companies
in the Global Biotechnology industry.

( Industry Median: 27.33 vs. AMGN: 14.38 )
Ranked among companies with meaningful PE(NRI) only.
AMGN' s PE(NRI) Range Over the Past 10 Years
Min: 10.4  Med: 16.62 Max: 30.95
Current: 14.38
10.4
30.95
Price/Owner Earnings (ttm) 13.43
AMGN's Price/Owner Earnings (ttm) is ranked higher than
73% of the 146 Companies
in the Global Biotechnology industry.

( Industry Median: 28.80 vs. AMGN: 13.43 )
Ranked among companies with meaningful Price/Owner Earnings (ttm) only.
AMGN' s Price/Owner Earnings (ttm) Range Over the Past 10 Years
Min: 9.72  Med: 13.99 Max: 29.05
Current: 13.43
9.72
29.05
P/B 3.45
AMGN's P/B is ranked higher than
51% of the 1227 Companies
in the Global Biotechnology industry.

( Industry Median: 3.57 vs. AMGN: 3.45 )
Ranked among companies with meaningful P/B only.
AMGN' s P/B Range Over the Past 10 Years
Min: 1.8  Med: 3.53 Max: 5.21
Current: 3.45
1.8
5.21
P/S 4.79
AMGN's P/S is ranked higher than
75% of the 978 Companies
in the Global Biotechnology industry.

( Industry Median: 12.03 vs. AMGN: 4.79 )
Ranked among companies with meaningful P/S only.
AMGN' s P/S Range Over the Past 10 Years
Min: 3.03  Med: 4.36 Max: 8.2
Current: 4.79
3.03
8.2
PFCF 13.82
AMGN's PFCF is ranked higher than
70% of the 156 Companies
in the Global Biotechnology industry.

( Industry Median: 22.44 vs. AMGN: 13.82 )
Ranked among companies with meaningful PFCF only.
AMGN' s PFCF Range Over the Past 10 Years
Min: 8.85  Med: 13.58 Max: 25.2
Current: 13.82
8.85
25.2
POCF 12.55
AMGN's POCF is ranked higher than
69% of the 238 Companies
in the Global Biotechnology industry.

( Industry Median: 20.45 vs. AMGN: 12.55 )
Ranked among companies with meaningful POCF only.
AMGN' s POCF Range Over the Past 10 Years
Min: 7.3  Med: 12.08 Max: 20.75
Current: 12.55
7.3
20.75
EV-to-EBIT 10.32
AMGN's EV-to-EBIT is ranked higher than
70% of the 317 Companies
in the Global Biotechnology industry.

( Industry Median: 20.32 vs. AMGN: 10.32 )
Ranked among companies with meaningful EV-to-EBIT only.
AMGN' s EV-to-EBIT Range Over the Past 10 Years
Min: 7.4  Med: 13.1 Max: 22.6
Current: 10.32
7.4
22.6
EV-to-EBITDA 8.56
AMGN's EV-to-EBITDA is ranked higher than
72% of the 346 Companies
in the Global Biotechnology industry.

( Industry Median: 16.98 vs. AMGN: 8.56 )
Ranked among companies with meaningful EV-to-EBITDA only.
AMGN' s EV-to-EBITDA Range Over the Past 10 Years
Min: 6.2  Med: 10.65 Max: 18.2
Current: 8.56
6.2
18.2
PEG 0.82
AMGN's PEG is ranked higher than
76% of the 95 Companies
in the Global Biotechnology industry.

( Industry Median: 2.03 vs. AMGN: 0.82 )
Ranked among companies with meaningful PEG only.
AMGN' s PEG Range Over the Past 10 Years
Min: 0.18  Med: 1.04 Max: 3.05
Current: 0.82
0.18
3.05
Shiller P/E 24.20
AMGN's Shiller P/E is ranked higher than
74% of the 58 Companies
in the Global Biotechnology industry.

( Industry Median: 47.42 vs. AMGN: 24.20 )
Ranked among companies with meaningful Shiller P/E only.
AMGN' s Shiller P/E Range Over the Past 10 Years
Min: 17.3  Med: 26.92 Max: 54.6
Current: 24.2
17.3
54.6
Current Ratio 4.35
AMGN's Current Ratio is ranked higher than
51% of the 946 Companies
in the Global Biotechnology industry.

( Industry Median: 4.23 vs. AMGN: 4.35 )
Ranked among companies with meaningful Current Ratio only.
AMGN' s Current Ratio Range Over the Past 10 Years
Min: 1.31  Med: 3.43 Max: 6.33
Current: 4.35
1.31
6.33
Quick Ratio 4.09
AMGN's Quick Ratio is ranked higher than
51% of the 946 Companies
in the Global Biotechnology industry.

( Industry Median: 3.98 vs. AMGN: 4.09 )
Ranked among companies with meaningful Quick Ratio only.
AMGN' s Quick Ratio Range Over the Past 10 Years
Min: 1.17  Med: 3.03 Max: 5.75
Current: 4.09
1.17
5.75
Days Inventory 225.87
AMGN's Days Inventory is ranked lower than
75% of the 448 Companies
in the Global Biotechnology industry.

( Industry Median: 129.09 vs. AMGN: 225.87 )
Ranked among companies with meaningful Days Inventory only.
AMGN' s Days Inventory Range Over the Past 10 Years
Min: 219.41  Med: 300.96 Max: 374.86
Current: 225.87
219.41
374.86
Days Sales Outstanding 51.54
AMGN's Days Sales Outstanding is ranked higher than
60% of the 595 Companies
in the Global Biotechnology industry.

( Industry Median: 63.02 vs. AMGN: 51.54 )
Ranked among companies with meaningful Days Sales Outstanding only.
AMGN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 46.32  Med: 52.64 Max: 67.84
Current: 51.54
46.32
67.84
Days Payable 72.28
AMGN's Days Payable is ranked higher than
59% of the 412 Companies
in the Global Biotechnology industry.

( Industry Median: 57.68 vs. AMGN: 72.28 )
Ranked among companies with meaningful Days Payable only.
AMGN' s Days Payable Range Over the Past 10 Years
Min: 54.15  Med: 86.19 Max: 117.72
Current: 72.28
54.15
117.72

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.79
AMGN's Dividend Yield is ranked higher than
72% of the 237 Companies
in the Global Biotechnology industry.

( Industry Median: 1.42 vs. AMGN: 2.79 )
Ranked among companies with meaningful Dividend Yield only.
AMGN' s Dividend Yield Range Over the Past 10 Years
Min: 0.48  Med: 1.65 Max: 2.82
Current: 2.79
0.48
2.82
Dividend Payout 0.38
AMGN's Dividend Payout is ranked higher than
56% of the 128 Companies
in the Global Biotechnology industry.

( Industry Median: 0.32 vs. AMGN: 0.38 )
Ranked among companies with meaningful Dividend Payout only.
AMGN' s Dividend Payout Range Over the Past 10 Years
Min: 0.22  Med: 0.35 Max: 0.56
Current: 0.38
0.22
0.56
Dividend Growth (3y) 29.90
AMGN's Dividend Growth (3y) is ranked higher than
86% of the 88 Companies
in the Global Biotechnology industry.

( Industry Median: 8.50 vs. AMGN: 29.90 )
Ranked among companies with meaningful Dividend Growth (3y) only.
AMGN' s Dividend Growth (3y) Range Over the Past 10 Years
Min: 0  Med: 0 Max: 63.3
Current: 29.9
0
63.3
Forward Dividend Yield 2.81
AMGN's Forward Dividend Yield is ranked higher than
73% of the 230 Companies
in the Global Biotechnology industry.

( Industry Median: 1.42 vs. AMGN: 2.81 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 2.79
AMGN's Yield on cost (5-Year) is ranked higher than
81% of the 285 Companies
in the Global Biotechnology industry.

( Industry Median: 1.75 vs. AMGN: 2.79 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
AMGN' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 0.48  Med: 1.65 Max: 2.82
Current: 2.79
0.48
2.82
3-Year Average Share Buyback Ratio 0.10
AMGN's 3-Year Average Share Buyback Ratio is ranked higher than
95% of the 554 Companies
in the Global Biotechnology industry.

( Industry Median: -11.20 vs. AMGN: 0.10 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
AMGN' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -8.2  Med: 1.7 Max: 8.7
Current: 0.1
-8.2
8.7

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 20.31
AMGN's Price/Tangible Book is ranked lower than
91% of the 1150 Companies
in the Global Biotechnology industry.

( Industry Median: 4.46 vs. AMGN: 20.31 )
Ranked among companies with meaningful Price/Tangible Book only.
AMGN' s Price/Tangible Book Range Over the Past 10 Years
Min: 4.67  Med: 14.08 Max: 150.81
Current: 20.31
4.67
150.81
Price/Projected FCF 0.88
AMGN's Price/Projected FCF is ranked higher than
90% of the 231 Companies
in the Global Biotechnology industry.

( Industry Median: 4.03 vs. AMGN: 0.88 )
Ranked among companies with meaningful Price/Projected FCF only.
AMGN' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.59  Med: 1.13 Max: 6.23
Current: 0.88
0.59
6.23
Price/DCF (Earnings Based) 0.83
AMGN's Price/DCF (Earnings Based) is ranked higher than
70% of the 23 Companies
in the Global Biotechnology industry.

( Industry Median: 1.08 vs. AMGN: 0.83 )
Ranked among companies with meaningful Price/DCF (Earnings Based) only.
N/A
Price/Median PS Value 1.11
AMGN's Price/Median PS Value is ranked lower than
59% of the 868 Companies
in the Global Biotechnology industry.

( Industry Median: 0.98 vs. AMGN: 1.11 )
Ranked among companies with meaningful Price/Median PS Value only.
AMGN' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.72  Med: 1.38 Max: 5.15
Current: 1.11
0.72
5.15
Price/Peter Lynch Fair Value 0.64
AMGN's Price/Peter Lynch Fair Value is ranked higher than
89% of the 76 Companies
in the Global Biotechnology industry.

( Industry Median: 1.72 vs. AMGN: 0.64 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
AMGN' s Price/Peter Lynch Fair Value Range Over the Past 10 Years
Min: 0.58  Med: 1.35 Max: 3.34
Current: 0.64
0.58
3.34
Price/Graham Number 3.60
AMGN's Price/Graham Number is ranked lower than
65% of the 248 Companies
in the Global Biotechnology industry.

( Industry Median: 2.49 vs. AMGN: 3.60 )
Ranked among companies with meaningful Price/Graham Number only.
AMGN' s Price/Graham Number Range Over the Past 10 Years
Min: 1.52  Med: 4.18 Max: 11.67
Current: 3.6
1.52
11.67
Earnings Yield (Greenblatt) (%) 9.66
AMGN's Earnings Yield (Greenblatt) (%) is ranked higher than
92% of the 1242 Companies
in the Global Biotechnology industry.

( Industry Median: -8.00 vs. AMGN: 9.66 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
AMGN' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 4.4  Med: 7.7 Max: 13.6
Current: 9.66
4.4
13.6
Forward Rate of Return (Yacktman) (%) 28.67
AMGN's Forward Rate of Return (Yacktman) (%) is ranked higher than
70% of the 118 Companies
in the Global Biotechnology industry.

( Industry Median: 15.87 vs. AMGN: 28.67 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
AMGN' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: 2.2  Med: 18.1 Max: 95.7
Current: 28.67
2.2
95.7

More Statistics

Revenue (TTM) (Mil) $22,562
EPS (TTM) $ 10.01
Beta1.49
Short Percentage of Float1.18%
52-Week Range $133.64 - 176.85
Shares Outstanding (Mil)743.92

Analyst Estimate

Dec16 Dec17 Dec18 Dec19
Revenue (Mil $) 22,716 23,291 22,402 21,269
EPS ($) 11.39 12.20 12.20 11.10
EPS w/o NRI ($) 11.39 12.20 12.20 11.10
EPS Growth Rate
(3Y to 5Y Estimate)
1.72%
Dividends Per Share ($) 3.97 4.77
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