Bristol Gate Capital Partners buys $26.2 Million stake in Amgen (AMGN)

Amgen (AMGN) : Bristol Gate Capital Partners scooped up 22,970 additional shares in Amgen during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 172,057 shares of Amgen which is valued at $26.2 Million.Amgen makes up approximately 4.94% of Bristol Gate Capital Partners’s portfolio.

Other Hedge Funds, Including , Twin Capital Management Inc boosted its stake in AMGN in the latest quarter, The investment management firm added 7,970 additional shares and now holds a total of 54,955 shares of Amgen which is valued at $8.4 Million. Amgen makes up approx 0.66% of Twin Capital Management Inc’s portfolio.Wallington Asset Management boosted its stake in AMGN in the latest quarter, The investment management firm added 1,350 additional shares and now holds a total of 65,201 shares of Amgen which is valued at $10 Million. Amgen makes up approx 3.27% of Wallington Asset Management’s portfolio.Meridian Management Co boosted its stake in AMGN in the latest quarter, The investment management firm added 230 additional shares and now holds a total of 16,309 shares of Amgen which is valued at $2.5 Million. Amgen makes up approx 1.53% of Meridian Management Co’s portfolio.Bryn Mawr Trust Co reduced its stake in AMGN by selling 2,345 shares or 2.12% in the most recent quarter. The Hedge Fund company now holds 108,503 shares of AMGN which is valued at $16.6 Million. Amgen makes up approx 1.07% of Bryn Mawr Trust Co’s portfolio. Wall Street Access Asset Management added AMGN to its portfolio by purchasing 3,635 company shares during the most recent quarter which is valued at $556,846. Amgen makes up approx 0.31% of Wall Street Access Asset Management’s portfolio.

Amgen opened for trading at $152.35 and hit $153.86 on the upside on Monday, eventually ending the session at $153.27, with a gain of 0.60% or 0.92 points. The heightened volatility saw the trading volume jump to 24,15,093 shares. Company has a market cap of $115,139 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.

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