Renaissance Group Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Renaissance Group reduced its stake in Amgen by 6.7% during the most recent quarter end. The investment management company now holds a total of 198,633 shares of Amgen which is valued at $34,367,482 after selling 14,273 shares in Amgen , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Amgen makes up approximately 1.39% of Renaissance Group’s portfolio.

Other Hedge Funds, Including , Peak6 Investments added AMGN to its portfolio by purchasing 12,264 company shares during the most recent quarter which is valued at $2,121,917. Amgen makes up approx 0.13% of Peak6 Investments’s portfolio.Fortaleza Asset Management Inc reduced its stake in AMGN by selling 3,870 shares or 22.92% in the most recent quarter. The Hedge Fund company now holds 13,015 shares of AMGN which is valued at $2,260,185. Amgen makes up approx 1.74% of Fortaleza Asset Management Inc’s portfolio.Cidel Asset Management Inc boosted its stake in AMGN in the latest quarter, The investment management firm added 3,365 additional shares and now holds a total of 61,361 shares of Amgen which is valued at $10,641,838. Amgen makes up approx 0.60% of Cidel Asset Management Inc’s portfolio.Chicago Equity Partners boosted its stake in AMGN in the latest quarter, The investment management firm added 66,675 additional shares and now holds a total of 197,545 shares of Amgen which is valued at $33,983,666. Amgen makes up approx 0.96% of Chicago Equity Partners’s portfolio.

Amgen closed down -1.13 points or -0.65% at $173.62 with 26,96,372 shares getting traded on Friday. Post opening the session at $174.1, the shares hit an intraday low of $172.26 and an intraday high of $174.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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