The Manufacturers Life Insurance Company Trims Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

The Manufacturers Life Insurance Company decreased its position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,425 shares of the company’s stock after selling 4,770 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Amneal Pharmaceuticals were worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of AMRX. Rothschild Investment LLC acquired a new stake in Amneal Pharmaceuticals during the second quarter worth $26,000. Gladius Capital Management LP purchased a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at about $37,000. DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals in the second quarter valued at about $42,000. nVerses Capital LLC purchased a new position in Amneal Pharmaceuticals during the second quarter worth about $62,000. Finally, Quest Partners LLC acquired a new stake in shares of Amneal Pharmaceuticals during the third quarter valued at about $84,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ AMRX opened at $7.83 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of -11.51 and a beta of 1.12. The business’s fifty day simple moving average is $8.49 and its 200-day simple moving average is $7.89. Amneal Pharmaceuticals, Inc. has a 12-month low of $4.74 and a 12-month high of $9.48.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMRX. Piper Sandler upped their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial raised their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Friday, September 6th. Finally, StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $10.00.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. The trade was a 76.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.56% of the stock is owned by company insiders.

About Amneal Pharmaceuticals

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.