Martingale Asset Management L P Grows Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Martingale Asset Management L P boosted its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,648 shares of the company's stock after acquiring an additional 53,944 shares during the period. Martingale Asset Management L P's holdings in Amneal Pharmaceuticals were worth $1,185,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amneal Pharmaceuticals during the 4th quarter valued at about $81,000. Straightline Group LLC purchased a new stake in Amneal Pharmaceuticals in the fourth quarter worth approximately $92,000. Cibc World Markets Corp bought a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at $118,000. Janney Montgomery Scott LLC purchased a new stake in Amneal Pharmaceuticals during the fourth quarter valued at $121,000. Finally, Fox Run Management L.L.C. lifted its holdings in Amneal Pharmaceuticals by 69.0% in the fourth quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company's stock valued at $162,000 after acquiring an additional 8,342 shares during the period. Institutional investors own 31.82% of the company's stock.

Wall Street Analyst Weigh In

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

Amneal Pharmaceuticals Stock Up 1.9 %

AMRX stock traded up $0.14 during trading on Thursday, reaching $7.32. The company's stock had a trading volume of 785,043 shares, compared to its average volume of 1,405,441. The company's fifty day moving average is $8.13 and its 200-day moving average is $8.26. The company has a market capitalization of $2.27 billion, a P/E ratio of -10.77 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a 1 year low of $5.18 and a 1 year 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 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 business 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 business posted $0.14 EPS. Analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company's stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the completion of the transaction, the director now owns 1,808,886 shares of the company's stock, valued at approximately $16,099,085.40. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,160,000 shares of company stock worth $43,113,200. Insiders own 26.56% of the company's stock.

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.