Ritholtz Wealth Management Cuts Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Ritholtz Wealth Management cut its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,820 shares of the company’s stock after selling 2,653 shares during the quarter. Ritholtz Wealth Management’s holdings in Amneal Pharmaceuticals were worth $1,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Amneal Pharmaceuticals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock worth $117,548,000 after buying an additional 218,025 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Amneal Pharmaceuticals by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock worth $39,531,000 after purchasing an additional 278,653 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amneal Pharmaceuticals by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock worth $30,207,000 after purchasing an additional 26,536 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in Amneal Pharmaceuticals by 37.3% in the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock worth $29,031,000 after purchasing an additional 995,586 shares during the last quarter. Finally, BlackBarn Capital Partners LP grew its holdings in Amneal Pharmaceuticals by 18.2% in the fourth quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company’s stock worth $22,572,000 after purchasing an additional 438,388 shares during the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMRX has been the topic of several recent research reports. Barclays upped their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Wall Street Zen lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Finally, The Goldman Sachs Group began coverage on Amneal Pharmaceuticals in a research report on Friday, June 6th. They set a “buy” rating and a $12.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.60.

Amneal Pharmaceuticals Stock Down 2.6%

Shares of AMRX opened at $7.90 on Wednesday. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $9.48. The firm’s 50 day moving average price is $7.44 and its 200 day moving average price is $7.93. The company has a market cap of $2.48 billion, a P/E ratio of -197.45 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $695.42 million for the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 0.46% and a negative return on equity of 188.26%. Research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Amneal Pharmaceuticals 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.