Royal London Asset Management Ltd Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Royal London Asset Management Ltd reduced its stake in Amgen by 5.86% during the most recent quarter end. The investment management company now holds a total of 255,575 shares of Amgen which is valued at $44,324,372 after selling 15,897 shares in Amgen , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Amgen makes up approximately 0.70% of Royal London Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Ipswich Investment Management reduced its stake in AMGN by selling 56 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 24,734 shares of AMGN which is valued at $4,289,618. Amgen makes up approx 2.09% of Ipswich Investment Management’s portfolio. Essex Investment Management Co added AMGN to its portfolio by purchasing 17,144 company shares during the most recent quarter which is valued at $2,926,138. Amgen makes up approx 0.46% of Essex Investment Management Co’s portfolio.Strs Ohio reduced its stake in AMGN by selling 2,826 shares or 0.61% in the most recent quarter. The Hedge Fund company now holds 461,857 shares of AMGN which is valued at $78,829,753. Amgen makes up approx 0.34% of Strs Ohio’s portfolio.

Amgen closed down -1.32 points or -0.76% at $172.34 with 27,06,525 shares getting traded on Monday. Post opening the session at $173.31, the shares hit an intraday low of $171.83 and an intraday high of $174.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Amgen reported $2.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.74. The company had revenue of $5688.00 million for the quarter, compared to analysts expectations of $5579.33 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS.

Investors should note that on Jul 22, 2016, Amgen announced a cash dividend of $1.0000. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 8, 2016.

Many Wall Street Analysts have commented on Amgen. Amgen was Initiated by Bernstein to “Mkt Perform” on Jun 29, 2016.

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.

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