Westport Resources Management Inc Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Westport Resources Management Inc reduced its stake in Amgen by 2.84% during the most recent quarter end. The investment management company now holds a total of 30,082 shares of Amgen which is valued at $5,204,788 after selling 879 shares in Amgen , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Amgen makes up approximately 1.62% of Westport Resources Management Inc’s portfolio.

Other Hedge Funds, Including , Pictet North America Advisors Sa added AMGN to its portfolio by purchasing 5,944 company shares during the most recent quarter which is valued at $1,028,431. Amgen makes up approx 0.23% of Pictet North America Advisors Sa’s portfolio.First National Trust Co reduced its stake in AMGN by selling 959 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 34,006 shares of AMGN which is valued at $5,804,144. Amgen makes up approx 0.87% of First National Trust Co’s portfolio.Conning reduced its stake in AMGN by selling 9,584 shares or 6.01% in the most recent quarter. The Hedge Fund company now holds 149,984 shares of AMGN which is valued at $25,599,269. Amgen makes up approx 1.06% of Conning’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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