Amundi Makes New Investment in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Amundi bought a new position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,764 shares of the company's stock, valued at approximately $256,000.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock valued at $10,792,000 after buying an additional 777,568 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock valued at $31,511,000 after acquiring an additional 378,136 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Amneal Pharmaceuticals during the fourth quarter worth $2,946,000. Polar Asset Management Partners Inc. grew its stake in shares of Amneal Pharmaceuticals by 122.5% in the third quarter. Polar Asset Management Partners Inc. now owns 393,000 shares of the company's stock worth $3,270,000 after purchasing an additional 216,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Amneal Pharmaceuticals by 16.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company's stock worth $11,689,000 after purchasing an additional 202,863 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have commented on AMRX. StockNews.com downgraded Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, Barclays upped their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $10.80.

Insiders Place Their Bets

In other news, Director Gautam Patel sold 80,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total transaction of $712,000.00. Following the transaction, the director now directly owns 1,808,886 shares of the company's stock, valued at $16,099,085.40. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the sale, the insider now directly owns 48,578,209 shares of the company's stock, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,240,000 shares of company stock worth $43,754,000. 26.56% of the stock is currently owned by company insiders.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock traded down $0.36 on Tuesday, hitting $8.53. 1,398,064 shares of the company's stock traded hands, compared to its average volume of 1,348,060. The company has a fifty day moving average of $8.40 and a two-hundred day moving average of $8.37. Amneal Pharmaceuticals, Inc. has a one year low of $5.18 and a one year high of $9.48. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -12.54 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.03). The business had revenue of $730.52 million for the quarter, compared to the consensus estimate of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Amneal Pharmaceuticals Company Profile

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.