Amneal Pharmaceuticals, Inc. $AMRX Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Amneal stake by 16.3% in the third quarter, adding 536,048 shares to hold about 1.2% of the company. Institutional investors collectively own 31.82% of AMRX.
• Analysts give Amneal a “Moderate Buy” consensus, with an average price target of $23. Nine analysts rate the stock Buy and one rates it Hold.
• Amneal reported quarterly earnings of $0.26 per share, beating the $0.23 consensus estimate, on revenue of $862.68 million. Insiders have sold 406,403 shares worth about $7.1 million over the past 90 days.

Allspring Global Investments Holdings LLC boosted its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,831,581 shares of the company's stock after purchasing an additional 536,048 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.20% of Amneal Pharmaceuticals worth $76,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AMRX. Dimensional Fund Advisors LP increased its stake in Amneal Pharmaceuticals by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,690,586 shares of the company's stock worth $70,723,000 after acquiring an additional 81,546 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Amneal Pharmaceuticals by 94.7% during the 3rd quarter. Congress Asset Management Co. now owns 1,524,355 shares of the company's stock worth $30,701,000 after acquiring an additional 741,577 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter worth $17,573,000. Principal Financial Group Inc. grew its position in Amneal Pharmaceuticals by 527.9% in the first quarter. Principal Financial Group Inc. now owns 972,529 shares of the company's stock worth $12,089,000 after acquiring an additional 817,652 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Amneal Pharmaceuticals by 18.3% in the first quarter. First Trust Advisors LP now owns 757,157 shares of the company's stock worth $9,411,000 after acquiring an additional 116,873 shares in the last quarter. 31.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMRX. The Goldman Sachs Group restated a "buy" rating and set a $24.00 price target on shares of Amneal Pharmaceuticals in a research report on Thursday, October 29th. JPMorgan Chase & Co. upped their price objective on Amneal Pharmaceuticals from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, November 4th. Oppenheimer started coverage on Amneal Pharmaceuticals in a research report on Wednesday, September 23rd. They set an "outperform" rating and a $27.00 price objective on the stock. Zacks Research raised Amneal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Monday, October 26th. Finally, Piper Sandler reissued an "overweight" rating and set a $21.00 price objective on shares of Amneal Pharmaceuticals in a report on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Amneal Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Insider Transactions at Amneal Pharmaceuticals

In other news, EVP Jason B. Daly sold 210,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $17.40, for a total transaction of $3,654,000.00. Following the completion of the sale, the executive vice president directly owned 35,171 shares in the company, valued at approximately $611,975.40. This represents a 85.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nikita Shah sold 146,403 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $17.51, for a total value of $2,563,516.53. Following the completion of the sale, the executive vice president directly owned 253,390 shares in the company, valued at $4,436,858.90. The trade was a 36.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 406,403 shares of company stock worth $7,099,517. Insiders own 17.30% of the company's stock.

Amneal Pharmaceuticals Stock Up 5.7%

AMRX opened at $21.28 on Tuesday. The company has a market cap of $6.80 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.33 and a beta of 1.24. The business's 50-day moving average price is $19.41 and its 200-day moving average price is $15.95. The company has a current ratio of 1.87, a quick ratio of 1.44 and a debt-to-equity ratio of 5.61. Amneal Pharmaceuticals, Inc. has a 12 month low of $11.38 and a 12 month high of $21.68.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. Amneal Pharmaceuticals had a return on equity of 283.50% and a net margin of 4.17%. The company had revenue of $862.68 million during the quarter. On average, equities analysts expect that Amneal Pharmaceuticals, Inc. will post 0.95 EPS for the current year.

Amneal Pharmaceuticals Profile

Amneal Pharmaceuticals is a U.S.-based pharmaceutical company that develops, manufactures and markets generic and specialty medicines. Its products include a broad range of generic drugs, including complex formulations and injectable medicines, as well as branded therapies in areas such as neurology and endocrinology.

The company also operates AvKARE, which distributes pharmaceuticals and medical products to government, institutional and commercial customers. Amneal serves customers in the United States and in international markets.

Founded in 2002 by brothers Chirag and Chintu Patel, Amneal became a larger pharmaceutical company following its 2018 combination with Impax Laboratories.

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