Handelsbanken Fonder AB Invests $309,000 in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Handelsbanken Fonder AB acquired a new position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,000 shares of the company's stock, valued at approximately $309,000.

A number of other hedge funds have also added to or reduced their stakes in AMRX. Geode Capital Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company's stock worth $31,511,000 after purchasing an additional 378,136 shares in the last quarter. State Street Corp increased its position in Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company's stock valued at $29,242,000 after purchasing an additional 127,753 shares during the period. Hennessy Advisors Inc. boosted its stake in shares of Amneal Pharmaceuticals by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,670,600 shares of the company's stock valued at $13,231,000 after purchasing an additional 106,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 202,863 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Amneal Pharmaceuticals by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock valued at $10,792,000 after acquiring an additional 777,568 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company's stock.

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Amneal Pharmaceuticals Trading Up 1.8 %

AMRX stock traded up $0.16 on Friday, hitting $8.92. The company had a trading volume of 890,872 shares, compared to its average volume of 1,397,432. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -13.09 and a beta of 1.10. The stock's 50-day simple moving average is $8.18 and its 200 day simple moving average is $8.34. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.18 and a 12-month high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its 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 return on equity of 346.26% and a negative net margin of 6.88%. The firm had revenue of $730.52 million during the quarter, compared to analysts' expectations of $708.21 million. During the same period in the previous year, the business posted $0.14 earnings per share. Research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insider Transactions at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the sale, the director now owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 240,000 shares of company stock worth $2,004,000 in the last three months. Corporate insiders own 26.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler increased their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. JPMorgan Chase & Co. upgraded 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 note on Monday, February 24th. Barclays lifted their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, StockNews.com downgraded shares of 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 data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $10.80.

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.