Hsbc Holdings PLC Reduces Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Hsbc Holdings PLC cut its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 85.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,841 shares of the company's stock after selling 247,568 shares during the quarter. Hsbc Holdings PLC's holdings in Amneal Pharmaceuticals were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AMRX. Rothschild Investment LLC bought a new position in Amneal Pharmaceuticals in the 2nd quarter valued at about $26,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $42,000. nVerses Capital LLC acquired a new stake in Amneal Pharmaceuticals during the 2nd quarter worth approximately $62,000. Atlanta Consulting Group Advisors LLC acquired a new stake in Amneal Pharmaceuticals during the 1st quarter worth approximately $61,000. Finally, Trexquant Investment LP acquired a new stake in Amneal Pharmaceuticals during the 4th quarter worth approximately $65,000. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Stock Up 0.7 %

AMRX stock traded up $0.06 during midday trading on Friday, reaching $8.61. 166,223 shares of the company's stock traded hands, compared to its average volume of 1,468,022. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -15.27 and a beta of 1.18. The firm's fifty day moving average price is $8.14 and its 200-day moving average price is $7.05. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals, Inc. has a 52 week low of $3.36 and a 52 week high of $8.94.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. The firm had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. As a group, sell-side analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an "underweight" rating to a "neutral" rating and set a $9.00 price target on the stock in a research report on Friday, September 6th. Barclays lifted their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. Finally, Truist Financial lifted their price objective on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Amneal Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $9.40.

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.