Los Angeles Capital Management Equity Research Inc Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Los Angeles Capital Management Equity Research Inc reduced its stake in Amgen by 2.49% during the most recent quarter end. The investment management company now holds a total of 434,727 shares of Amgen which is valued at $74,959,977 after selling 11,103 shares in Amgen , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Amgen makes up approximately 0.62% of Los Angeles Capital Management Equity Research Inc’s portfolio.

Other Hedge Funds, Including , Foster Motley Inc boosted its stake in AMGN in the latest quarter, The investment management firm added 2,245 additional shares and now holds a total of 48,253 shares of Amgen which is valued at $8,368,518. Amgen makes up approx 1.62% of Foster Motley Inc’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in AMGN in the latest quarter, The investment management firm added 969 additional shares and now holds a total of 57,897 shares of Amgen which is valued at $9,960,021. Amgen makes up approx 0.29% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.1st Global Advisors reduced its stake in AMGN by selling 143 shares or 1.61% in the most recent quarter. The Hedge Fund company now holds 8,721 shares of AMGN which is valued at $1,444,808. Amgen makes up approx 0.19% of 1st Global Advisors’s portfolio.

Amgen opened for trading at $171.48 and hit $174.72 on the upside on Monday, eventually ending the session at $174.58, with a gain of 0.90% or 1.56 points. The heightened volatility saw the trading volume jump to 27,84,334 shares. Company has a market cap of $130,649 M.

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.

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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