Corebridge Financial Inc. Has $627,000 Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Corebridge Financial Inc. cut its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,113 shares of the company’s stock after selling 5,971 shares during the period. Corebridge Financial Inc.’s holdings in Amneal Pharmaceuticals were worth $627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at $81,000. Cibc World Markets Corp acquired a new stake in Amneal Pharmaceuticals in the 4th quarter valued at about $118,000. Janney Montgomery Scott LLC acquired a new stake in Amneal Pharmaceuticals in the 4th quarter valued at about $121,000. Fox Run Management L.L.C. raised its stake in shares of 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 worth $162,000 after acquiring an additional 8,342 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Amneal Pharmaceuticals during the third quarter worth approximately $169,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $7.21 on Tuesday. Amneal Pharmaceuticals, Inc. has a 52 week low of $5.18 and a 52 week high of $9.48. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -10.60 and a beta of 1.06. The firm has a fifty day moving average of $8.33 and a two-hundred day moving average of $8.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same period in the previous year, the company posted $0.14 EPS. As a group, research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity at Amneal Pharmaceuticals

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the sale, the insider now owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. This trade represents a 9.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total value of $651,200.00. Following the completion of the transaction, the director now owns 1,888,886 shares of the company’s stock, valued at $15,375,532.04. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,222,590 shares of company stock worth $43,614,546. 26.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.