First Long Island Investors adds Amgen (AMGN) to its portfolio

Amgen (AMGN) : First Long Island Investors added new position in Amgen during the most recent quarter end. The investment management firm now holds 87,844 shares of Amgen which is valued at $15,139,035 , the company said in a statement filed on Aug 9, 2016 with the SEC.Amgen makes up approximately 2.71% of First Long Island Investors’s portfolio.

Other Hedge Funds, Including , Sandy Spring Bank reduced its stake in AMGN by selling 270 shares or 1.72% in the most recent quarter. The Hedge Fund company now holds 15,459 shares of AMGN which is valued at $2,664,204. Amgen makes up approx 0.29% of Sandy Spring Bank’s portfolio.Tradewinds Capital Management boosted its stake in AMGN in the latest quarter, The investment management firm added 544 additional shares and now holds a total of 7,261 shares of Amgen which is valued at $1,249,110. Amgen makes up approx 0.86% of Tradewinds Capital Management’s portfolio.Dowling Yahnke boosted its stake in AMGN in the latest quarter, The investment management firm added 790 additional shares and now holds a total of 35,400 shares of Amgen which is valued at $5,864,718. Amgen makes up approx 0.68% of Dowling Yahnke’s portfolio.Farmers Trust Co boosted its stake in AMGN in the latest quarter, The investment management firm added 974 additional shares and now holds a total of 29,259 shares of Amgen which is valued at $4,847,339. Amgen makes up approx 1.53% of Farmers Trust Co’s portfolio.

Amgen opened for trading at $172.01 and hit $174.5 on the upside on Wednesday, eventually ending the session at $174.31, with a gain of 1.25% or 2.15 points. The heightened volatility saw the trading volume jump to 25,80,941 shares. Company has a market cap of $130,447 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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