Wellington Management Group LLP Sells 8,577 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Wellington Management Group LLP trimmed its position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,019 shares of the company’s stock after selling 8,577 shares during the quarter. Wellington Management Group LLP’s holdings in Amneal Pharmaceuticals were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amneal Pharmaceuticals during the 4th quarter worth $81,000. Cibc World Markets Corp bought a new stake in shares of Amneal Pharmaceuticals in the fourth quarter worth about $118,000. Janney Montgomery Scott LLC acquired a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth about $121,000. Fox Run Management L.L.C. lifted its holdings in shares of Amneal Pharmaceuticals by 69.0% during the 4th quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock valued at $162,000 after purchasing an additional 8,342 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Amneal Pharmaceuticals Stock Up 3.3 %

NASDAQ AMRX opened at $7.21 on Tuesday. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.18 and a 12-month high of $9.48. The firm’s 50 day moving average is $8.16 and its 200-day moving average is $8.27. The company has a market capitalization of $2.23 billion, a PE ratio of -10.60 and a beta of 1.06.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The business had revenue of $730.52 million for the quarter, compared to the consensus estimate of $708.21 million. During the same period last year, the firm earned $0.14 earnings per share. As a group, sell-side analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insider Activity at Amneal Pharmaceuticals

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gautam Patel sold 80,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the completion of the sale, the director now directly owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,160,000 shares of company stock valued at $43,113,200. Insiders own 26.56% of the company’s stock.

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.