Invesco Ltd. Trims Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Invesco Ltd. trimmed its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,907,246 shares of the company's stock after selling 389,951 shares during the period. Invesco Ltd. owned about 0.62% of Amneal Pharmaceuticals worth $15,105,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMRX. State Street Corp lifted its stake in shares of Amneal Pharmaceuticals by 3.8% during the third quarter. State Street Corp now owns 3,514,721 shares of the company's stock valued at $29,242,000 after buying an additional 127,753 shares during the period. Barclays PLC raised its holdings in Amneal Pharmaceuticals by 134.1% in the 3rd quarter. Barclays PLC now owns 296,384 shares of the company's stock valued at $2,466,000 after acquiring an additional 169,756 shares during the last quarter. Geode Capital Management LLC raised its holdings in Amneal Pharmaceuticals by 11.1% in the 3rd 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. Franklin Resources Inc. lifted its stake in shares of Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company's stock worth $778,000 after purchasing an additional 4,178 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Amneal Pharmaceuticals by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock worth $10,792,000 after purchasing an additional 777,568 shares during the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays increased their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $9.00 to $12.00 in a report on Monday, February 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $10.80.

Amneal Pharmaceuticals Price Performance

AMRX stock traded up $0.10 during trading on Friday, reaching $7.52. 440,610 shares of the stock traded hands, compared to its average volume of 1,400,913. The firm has a market capitalization of $2.33 billion, a PE ratio of -11.05 and a beta of 1.06. The business's 50 day moving average price is $8.06 and its 200-day moving average price is $8.21. Amneal Pharmaceuticals, Inc. has a 52-week low of $5.59 and a 52-week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its 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 firm had revenue of $730.52 million for the quarter, compared to analysts' expectations 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 firm posted $0.14 EPS. On average, equities research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total value of $651,200.00. Following the completion of the transaction, the director now owns 1,888,886 shares in the company, valued at $15,375,532.04. This represents a 4.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction that occurred 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 $405,628,045.15. This trade represents a 9.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,160,000 shares of company stock worth $43,113,200 over the last ninety days. 17.45% of the stock is owned by company insiders.

Amneal Pharmaceuticals 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.