Essex Financial Services Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Essex Financial Services reduced its stake in Amgen by 0.09% during the most recent quarter end. The investment management company now holds a total of 53,112 shares of Amgen which is valued at $8.1 Million after selling 50 shares in Amgen , the firm said in a disclosure report filed with the SEC on May 11, 2016.Amgen makes up approximately 1.99% of Essex Financial Services’s portfolio.

Other Hedge Funds, Including , Old Mutual Customised Solutions (proprietary) Ltd reduced its stake in AMGN by selling 400 shares or 2.6% in the most recent quarter. The Hedge Fund company now holds 15,000 shares of AMGN which is valued at $2.3 Million. Amgen makes up approx 0.59% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Goelzer Investment Management boosted its stake in AMGN in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 1,599 shares of Amgen which is valued at $244,951. Amgen makes up approx 0.04% of Goelzer Investment 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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