Does the Pullback in This Pharma Stock Create a Buying Opportunity?
Since biotech company Amgen (NASDAQ: AMGN) reported its second-quarter earnings earlier this month, its shares have fallen 9%. The market's reaction occurred despite Amgen's performance; even against the COVID-19 headwinds the company has faced this year, it was able to exceed analysts' revenue and earnings-per-share estimates by 1.2% and 7.1%, respectively.
Let's examine Amgen's second-quarter operating results, balance sheet, and valuation to gain a better understanding of whether the pullback could be a gift from the market for long-term dividend investors.
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Source Fool.com
