Cullinan Associates Inc Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Cullinan Associates Inc reduced its stake in Amgen by 2.51% during the most recent quarter end. The investment management company now holds a total of 69,605 shares of Amgen which is valued at $11,640,740 after selling 1,795 shares in Amgen , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Amgen makes up approximately 1.00% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi sold out all of its stake in AMGN during the most recent quarter. The investment firm sold 69,845 shares of AMGN which is valued $11,680,878.

Amgen opened for trading at $167.34 and hit $168.69 on the upside on Tuesday, eventually ending the session at $167.55, with a gain of 0.13% or 0.21 points. The heightened volatility saw the trading volume jump to 27,97,603 shares. Company has a market cap of $125,388 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.

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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