Third Point Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Third Point reduced its stake in Amgen by 66.82% during the most recent quarter end. The investment management company now holds a total of 3,000,000 shares of Amgen which is valued at $457.1 Million after selling 6,042,900 shares in Amgen , the firm said in a disclosure report filed with the SEC on May 13, 2016.Amgen makes up approximately 4.25% of Third Point’s portfolio.

Other Hedge Funds, Including , Private Advisor Group boosted its stake in AMGN in the latest quarter, The investment management firm added 7,335 additional shares and now holds a total of 25,080 shares of Amgen which is valued at $3.8 Million. Amgen makes up approx 0.19% of Private Advisor Group’s portfolio.Opus Investment Management Inc boosted its stake in AMGN in the latest quarter, The investment management firm added 3,100 additional shares and now holds a total of 33,600 shares of Amgen which is valued at $5.1 Million. Amgen makes up approx 0.98% of Opus Investment Management Inc’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in AMGN in the latest quarter, The investment management firm added 1,754 additional shares and now holds a total of 56,928 shares of Amgen which is valued at $8.7 Million. Amgen makes up approx 0.27% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

Amgen opened for trading at $153.54 and hit $155.84 on the upside on Wednesday, eventually ending the session at $155.57, with a gain of 1.87% or 2.85 points. The heightened volatility saw the trading volume jump to 30,53,390 shares. Company has a market cap of $116,867 M.

On the company’s financial health, Amgen reported $2.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $2.61. The company had revenue of $5527.00 million for the quarter, compared to analysts expectations of $5321.84 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS.

Many Wall Street Analysts have commented on Amgen. Citigroup Initiated Amgen on Feb 25, 2016 to “Neutral”, Price Target of the shares are set at $165.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering developing manufacturing and delivering human therapeutics. The Company’s sales and marketing forces are located in the United States and Europe. In the United States it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising as well as through the Internet. Outside the United States the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Company’s products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim) Enbrel (etanercept) XGEVA/Prolia (denosumab) ESAs (erythropoiesis-stimulating agents) Sensipar/Mimpara (cinacalcet) Kyprolis and Evolocumab among others.

Leave a Reply

Amgen - Is it time to Sell?

Top Brokerage Firms are advising their investors on Amgen. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.