Ameriprise Financial Inc. Has $12.19 Million Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Ameriprise Financial Inc. reduced its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,539,247 shares of the company's stock after selling 49,121 shares during the quarter. Ameriprise Financial Inc. owned 0.50% of Amneal Pharmaceuticals worth $12,191,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC increased its position in shares of Amneal Pharmaceuticals by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company's stock valued at $750,000 after acquiring an additional 2,297 shares during the period. Franklin Resources Inc. raised its stake in shares of Amneal Pharmaceuticals by 4.9% in the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company's stock worth $778,000 after purchasing an additional 4,178 shares during the last quarter. Arizona State Retirement System lifted its stake in Amneal Pharmaceuticals by 13.6% during the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company's stock valued at $320,000 after acquiring an additional 4,851 shares during the period. Alliancebernstein L.P. grew its stake in shares of Amneal Pharmaceuticals by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 200,246 shares of the company's stock worth $1,586,000 after acquiring an additional 4,927 shares during the period. Finally, Globeflex Capital L P grew its holdings in shares of Amneal Pharmaceuticals by 3.8% in the fourth quarter. Globeflex Capital L P now owns 144,439 shares of the company's stock worth $1,144,000 after acquiring an additional 5,245 shares during the period. 31.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction dated 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 sale, the insider now owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gautam Patel sold 80,000 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly 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. 26.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMRX has been the topic of several analyst reports. Barclays lifted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Wall Street Zen cut Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $11.50.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX traded down $0.03 during trading hours on Friday, hitting $7.16. The stock had a trading volume of 1,091,544 shares, compared to its average volume of 1,452,224. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $9.48. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -10.53 and a beta of 1.17. The firm has a 50-day moving average price of $7.62 and a 200 day moving average price of $8.05.

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

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.