Orbimed Advisors Lowers stake in AbbVie Inc (ABBV)

AbbVie Inc (ABBV) : Orbimed Advisors reduced its stake in AbbVie Inc by 0.71% during the most recent quarter end. The investment management company now holds a total of 7,395,700 shares of AbbVie Inc which is valued at $496,917,083 after selling 52,800 shares in AbbVie Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AbbVie Inc makes up approximately 4.71% of Orbimed Advisors’s portfolio.

Other Hedge Funds, Including , Sc Us (ttgp) Ltd. added ABBV to its portfolio by purchasing 1,435,228 company shares during the most recent quarter which is valued at $96,432,969. AbbVie Inc makes up approx 56.63% of Sc Us (ttgp) Ltd.’s portfolio.Taylor Cottrill Erickson Associates reduced its stake in ABBV by selling 1,224 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 43,006 shares of ABBV which is valued at $2,879,252. AbbVie Inc makes up approx 0.79% of Taylor Cottrill Erickson Associates’s portfolio.Gamco Investors Et Al reduced its stake in ABBV by selling 164 shares or 0.46% in the most recent quarter. The Hedge Fund company now holds 35,296 shares of ABBV which is valued at $2,348,596. AbbVie Inc makes up approx 0.02% of Gamco Investors Et Al’s portfolio.

AbbVie Inc closed down -0.07 points or -0.11% at $64.03 with 51,26,674 shares getting traded on Thursday. Post opening the session at $64.1, the shares hit an intraday low of $63.605 and an intraday high of $64.14 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, AbbVie Inc reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.20. The company had revenue of $6452.00 million for the quarter, compared to analysts expectations of $6207.43 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on AbbVie Inc. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.AbbVie Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 8, 2016.

AbbVie Inc. (AbbVie) is a global research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions such as chronic autoimmune diseases including rheumatoid arthritis psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis and other health conditions such as low testosterone. AbbVie also has a pipeline of new medicines including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties such as immunology virology/liver disease oncology renal disease neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA HCV products Additional Virology products Metabolics/Hormones products Endocrinology products and other products.

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