Convergence Investment Partners LLC Sells 52,890 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Convergence Investment Partners LLC lowered its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 25.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,119 shares of the company's stock after selling 52,890 shares during the quarter. Convergence Investment Partners LLC owned 0.05% of Amneal Pharmaceuticals worth $1,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Amneal Pharmaceuticals by 5,975.0% in the 1st quarter. GAMMA Investing LLC now owns 3,159 shares of the company's stock valued at $26,000 after buying an additional 3,107 shares during the last quarter. Amalgamated Bank grew its holdings in Amneal Pharmaceuticals by 33.0% in the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock valued at $46,000 after buying an additional 1,367 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Amneal Pharmaceuticals in the 4th quarter valued at approximately $52,000. Straightline Group LLC acquired a new stake in Amneal Pharmaceuticals in the 4th quarter valued at approximately $92,000. Finally, Xponance Inc. grew its holdings in Amneal Pharmaceuticals by 16.1% in the 1st quarter. Xponance Inc. now owns 13,183 shares of the company's stock valued at $110,000 after buying an additional 1,828 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock traded up $0.06 during midday trading on Friday, hitting $8.06. 1,121,966 shares of the company were exchanged, compared to its average volume of 1,371,450. The firm has a market cap of $2.53 billion, a P/E ratio of -201.45 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a 52 week low of $6.50 and a 52 week high of $9.48. The firm has a 50 day simple moving average of $7.87 and a 200-day simple moving average of $7.96.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $695.42 million during the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative return on equity of 188.26% and a negative net margin of 0.46%. Equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group began coverage on Amneal Pharmaceuticals in a report on Friday, June 6th. They issued a "buy" rating and a $12.00 target price on the stock. Wall Street Zen lowered Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $11.60.

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.