5 Stocks On Investors’ Radar After Earnings Reports

4. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 52

Shares of Amgen Inc. (NASDAQ:AMGN) climbed to a nearly six-month high on Tuesday, February 8, 2022, after announcing a better-than-expected profit for the fourth quarter. The California-based biopharmaceutical company earned $4.36 per share on an adjusted basis, topping estimates of $4.04 per share.

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On the downside, Amgen Inc. (NASDAQ:AMGN) generated revenue of $6.85 billion, slightly below analysts’ average estimate of $6.87 billion. The latest quarterly revenue was mainly driven by its Covid-19 manufacturing partnership with Eli Lilly.

Amgen Inc. (NASDAQ:AMGN) also updated its sales outlook for 2022. It expects revenue in the range of $25.4 – $26.5 billion for the current year. This compares to analysts’ average estimate of $27 billion.

Speaking on the results, CEO Robert Bradway said:

“We realized strong volume growth for many of our key products during last year. These products, combined with our many pipeline opportunities, position us well for long-term growth.”