Wells Fargo & Company MN Sells 99,862 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Wells Fargo & Company MN decreased its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,973 shares of the company's stock after selling 99,862 shares during the quarter. Wells Fargo & Company MN's holdings in Amneal Pharmaceuticals were worth $618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMRX. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals during the fourth quarter worth $81,000. Cibc World Markets Corp acquired a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at about $118,000. Janney Montgomery Scott LLC acquired a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $121,000. Fox Run Management L.L.C. boosted its position in Amneal Pharmaceuticals by 69.0% during the fourth 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 during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $219,000. Institutional investors and hedge funds own 31.82% of the company's stock.

Amneal Pharmaceuticals Trading Up 2.5 %

AMRX stock traded up $0.18 during trading on Thursday, hitting $7.40. The company had a trading volume of 216,134 shares, compared to its average volume of 1,421,974. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $9.48. The company has a market cap of $2.29 billion, a P/E ratio of -10.88 and a beta of 1.17. The company has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $8.14.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The company had revenue of $695.42 million during the quarter, compared to analyst estimates of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. On average, analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business's 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 directly owns 48,578,209 shares of the company's stock, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gautam Patel sold 80,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the sale, the director now directly owns 1,808,886 shares in the company, valued at $16,099,085.40. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised 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 research report on Monday, February 24th. Barclays boosted their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Finally, StockNews.com raised Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Monday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $11.50.

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.