Principal Financial Group Inc. Lowers Stock Position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Principal Financial Group Inc. reduced its position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,017 shares of the company's stock after selling 16,155 shares during the period. Principal Financial Group Inc. owned 0.42% of Amphastar Pharmaceuticals worth $9,804,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMPH. World Investment Advisors LLC purchased a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter worth $1,614,000. Sanctuary Advisors LLC boosted its position in shares of Amphastar Pharmaceuticals by 8.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,240 shares of the company's stock worth $466,000 after purchasing an additional 801 shares during the period. Invst LLC increased its holdings in Amphastar Pharmaceuticals by 23.6% in the 3rd quarter. Invst LLC now owns 14,390 shares of the company's stock valued at $698,000 after purchasing an additional 2,752 shares during the last quarter. Hohimer Wealth Management LLC purchased a new stake in Amphastar Pharmaceuticals in the third quarter valued at approximately $339,000. Finally, Geode Capital Management LLC lifted its stake in Amphastar Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 920,363 shares of the company's stock worth $44,674,000 after purchasing an additional 14,015 shares in the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Stock Up 0.8 %

Shares of Amphastar Pharmaceuticals stock traded up $0.29 during trading hours on Tuesday, reaching $37.13. 568,379 shares of the company were exchanged, compared to its average volume of 416,015. The firm has a market cap of $1.79 billion, a PE ratio of 12.38, a PEG ratio of 0.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. Amphastar Pharmaceuticals, Inc. has a 1 year low of $36.48 and a 1 year high of $65.92. The stock's fifty day moving average is $44.75 and its 200 day moving average is $44.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an "equal weight" rating and a $55.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.33.

Insider Activity

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total transaction of $244,000.00. Following the completion of the sale, the director now directly owns 31,471 shares of the company's stock, valued at $1,535,784.80. The trade was a 13.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William J. Peters sold 7,426 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $386,523.30. Following the completion of the transaction, the chief financial officer now owns 94,103 shares in the company, valued at approximately $4,898,061.15. The trade was a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,533 shares of company stock worth $1,987,482. 27.10% of the stock is currently owned by company insiders.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.