Geode Capital Management LLC Purchases 378,136 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Geode Capital Management LLC boosted its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 11.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,786,671 shares of the company's stock after acquiring an additional 378,136 shares during the period. Geode Capital Management LLC owned 1.22% of Amneal Pharmaceuticals worth $31,511,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Amneal Pharmaceuticals by 20.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company's stock valued at $4,771,000 after acquiring an additional 128,772 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Amneal Pharmaceuticals by 13.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company's stock valued at $222,000 after purchasing an additional 4,115 shares during the period. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals during the 2nd quarter worth about $26,000. nVerses Capital LLC bought a new position in Amneal Pharmaceuticals in the 2nd quarter worth about $62,000. Finally, Ritholtz Wealth Management grew its holdings in Amneal Pharmaceuticals by 19.3% during the 2nd quarter. Ritholtz Wealth Management now owns 159,710 shares of the company's stock valued at $1,014,000 after buying an additional 25,869 shares in the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Price Performance

Shares of AMRX remained flat at $7.85 on Thursday. 507,138 shares of the company traded hands, compared to its average volume of 1,371,447. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.48. The firm has a 50 day simple moving average of $8.36 and a 200 day simple moving average of $7.96. The stock has a market cap of $2.43 billion, a P/E ratio of -11.54 and a beta of 1.12.

Insider Activity

In other news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.46% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMRX. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 price objective on the stock in a research report on Friday, September 6th. StockNews.com lowered Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Finally, Truist Financial increased their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.00.

About Amneal Pharmaceuticals

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.