Prudential Financial Inc. Acquires 270,200 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Prudential Financial Inc. increased its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,183,781 shares of the company's stock after purchasing an additional 270,200 shares during the quarter. Prudential Financial Inc. owned approximately 0.38% of Amneal Pharmaceuticals worth $9,376,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Amneal Pharmaceuticals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company's stock worth $117,548,000 after purchasing an additional 218,025 shares during the last quarter. Fox Run Management L.L.C. increased its position in shares of Amneal Pharmaceuticals by 69.0% during the 4th quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company's stock worth $162,000 after purchasing an additional 8,342 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Amneal Pharmaceuticals during the 4th quarter worth approximately $219,000. Sei Investments Co. grew its stake in shares of Amneal Pharmaceuticals by 14.4% during the fourth quarter. Sei Investments Co. now owns 339,461 shares of the company's stock valued at $2,689,000 after purchasing an additional 42,743 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Amneal Pharmaceuticals by 7.5% in the fourth quarter. Quantbot Technologies LP now owns 119,533 shares of the company's stock worth $947,000 after purchasing an additional 8,352 shares during the period. 31.82% of the stock is owned by institutional investors.

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Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. This represents a 9.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the transaction, the director now owns 1,968,886 shares in the company, valued at approximately $15,770,776.86. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,222,590 shares of company stock valued at $43,614,546 in the last 90 days. 17.46% of the stock is owned by corporate insiders.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX traded down $0.36 during trading hours on Thursday, hitting $7.81. The company's stock had a trading volume of 1,985,424 shares, compared to its average volume of 1,381,192. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.18 and a twelve month high of $9.48. The stock has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $8.36. The company has a market capitalization of $2.42 billion, a P/E ratio of -11.49 and a beta of 1.06.

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

Wall Street Analyst Weigh In

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

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.