Cullinan Associates Inc buys $11,015,592 stake in Amgen (AMGN)

Amgen (AMGN) : Cullinan Associates Inc scooped up 10,680 additional shares in Amgen during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 1, 2016. The investment management firm now holds a total of 71,400 shares of Amgen which is valued at $11,015,592.Amgen makes up approximately 0.90% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Toth Financial Advisory Corp boosted its stake in AMGN in the latest quarter, The investment management firm added 5,469 additional shares and now holds a total of 7,244 shares of Amgen which is valued at $1,117,604. Amgen makes up approx 0.34% of Toth Financial Advisory Corp’s portfolio.

Amgen opened for trading at $152.43 and hit $154.95 on the upside on Friday, eventually ending the session at $154.28, with a gain of 1.40% or 2.13 points. The heightened volatility saw the trading volume jump to 27,58,071 shares. Company has a market cap of $115,898 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. 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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