Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 56.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,973 shares of the company’s stock after selling 99,862 shares during the period. Wells Fargo & Company MN’s holdings in Amneal Pharmaceuticals were worth $618,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at $81,000. Cibc World Markets Corp purchased a new stake in Amneal Pharmaceuticals during the fourth quarter valued at about $118,000. Janney Montgomery Scott LLC acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter worth about $121,000. Fox Run Management L.L.C. grew its position in 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 worth $162,000 after purchasing an additional 8,342 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Amneal Pharmaceuticals during the 4th quarter valued at $219,000. 31.82% of the stock is owned by institutional investors.

Amneal Pharmaceuticals Price Performance

AMRX opened at $7.97 on Friday. The company has a market capitalization of $2.47 billion, a PE ratio of -11.72 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.81 and a fifty-two week high of $9.48. The business has a 50-day moving average of $8.02 and a 200-day moving average of $8.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. On average, equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now directly owns 48,578,209 shares in the company, valued at $405,628,045.15. This represents a 9.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the sale, the director now owns 1,808,886 shares in the company, valued at $16,099,085.40. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,160,000 shares of company stock valued at $43,113,200 over the last 90 days. 26.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMRX shares. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Barclays boosted their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals has a consensus rating of “Buy” and an average 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.