Crestpoint Capital Management Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Crestpoint Capital Management reduced its stake in Amgen by 24.88% during the most recent quarter end. The investment management company now holds a total of 15,700 shares of Amgen which is valued at $2,514,041 after selling 5,200 shares in Amgen , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Amgen makes up approximately 1.36% of Crestpoint Capital Management’s portfolio.

Amgen opened for trading at $162.44 and hit $164.54 on the upside on Wednesday, eventually ending the session at $164.35, with a gain of 0.98% or 1.59 points. The heightened volatility saw the trading volume jump to 23,48,393 shares. Company has a market cap of $123,606 M.

Other Hedge Funds, Including , Boyd Watterson Asset Managementoh added AMGN to its portfolio by purchasing 4,466 company shares during the most recent quarter which is valued at $715,141. Amgen makes up approx 0.36% of Boyd Watterson Asset Managementoh’s portfolio.Santa Fe Partners reduced its stake in AMGN by selling 1,932 shares or 13.47% in the most recent quarter. The Hedge Fund company now holds 12,411 shares of AMGN which is valued at $1,987,373. Amgen makes up approx 0.32% of Santa Fe Partners’s portfolio. 1st Global Advisors added AMGN to its portfolio by purchasing 8,864 company shares during the most recent quarter which is valued at $1,419,392. Amgen makes up approx 0.20% of 1st Global Advisors’s portfolio.Mai Capital Management boosted its stake in AMGN in the latest quarter, The investment management firm added 114 additional shares and now holds a total of 83,135 shares of Amgen which is valued at $13,001,483. Amgen makes up approx 1.07% of Mai Capital Management’s portfolio.

On the company’s financial health, Amgen reported $2.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $2.29. The company had revenue of $5536.00 million for the quarter, compared to analysts expectations of $5534.94 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS.

Investors should note that on Mar 2, 2016, Amgen announced a cash dividend of $1.0000. The company’s management has announced May 13, 2016 as the ex-dividend date and fixed the record date on May 17, 2016. The payable date has been fixed on Jun 8, 2016.

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.Shares were Reiterated by Argus on Feb 8, 2016 to “Buy” and Lowered the Price Target to $ 185 from a previous price target of $202 .Credit Suisse Initiated Amgen on Jan 20, 2016 to “Outperform”, Price Target of the shares are set at $205.

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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