Allspring Global Investments Holdings LLC Cuts Stock Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Allspring Global Investments Holdings LLC cut its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRXFree Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,152 shares of the company’s stock after selling 8,612 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amneal Pharmaceuticals were worth $783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals during the third quarter valued at $39,000. Trexquant Investment LP bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $65,000. TCG Advisory Services LLC bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $91,000. Bellevue Group AG bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $155,000. Finally, Arizona State Retirement System bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $183,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $6.82 on Tuesday. The company has a market capitalization of $2.10 billion, a PE ratio of -12.18 and a beta of 1.23. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.97 and a current ratio of 1.65. The company has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $6.03. Amneal Pharmaceuticals, Inc. has a one year low of $2.95 and a one year high of $7.25.

Amneal Pharmaceuticals (NASDAQ:AMRXGet Free Report) last announced its earnings results on Friday, May 3rd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $659.19 million during the quarter, compared to the consensus estimate of $623.08 million. Amneal Pharmaceuticals had a negative net margin of 6.76% and a positive return on equity of 234.06%. Research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $9.00 price objective (up from $7.00) on shares of Amneal Pharmaceuticals in a report on Monday, May 6th. The Goldman Sachs Group lifted their price objective on Amneal Pharmaceuticals from $6.25 to $8.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Piper Sandler lifted their price objective on Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $8.25.

Check Out Our Latest Analysis on Amneal Pharmaceuticals

About Amneal Pharmaceuticals

(Free Report)

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.

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Institutional Ownership by Quarter for Amneal Pharmaceuticals (NASDAQ:AMRX)

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