Mackenzie Financial Corp Purchases 156,609 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Key Points

• Mackenzie Financial Corp significantly increased its stake in Amneal Pharmaceuticals by 1,281.5%, acquiring 156,609 shares to own a total of 168,830 shares valued at approximately $1.4 million.
• Amneal Pharmaceuticals reported earnings of $0.19 per share, exceeding analysts' expectations, but noted a negative net margin of 0.46% and a return on equity of -188.26%.
• Analysts have an average rating of "Buy" for Amneal Pharmaceuticals, with a consensus price target of $11.60, following various rating adjustments from multiple research firms.

Mackenzie Financial Corp grew its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 1,281.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,830 shares of the company's stock after buying an additional 156,609 shares during the period. Mackenzie Financial Corp owned 0.05% of Amneal Pharmaceuticals worth $1,415,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nantahala Capital Management LLC boosted its stake in Amneal Pharmaceuticals by 37.3% in the 4th 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 in the last quarter. BlackBarn Capital Partners LP raised its position in Amneal Pharmaceuticals by 18.2% during the 4th quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company's stock worth $22,572,000 after buying an additional 438,388 shares during the last quarter. Mariner LLC raised its position in Amneal Pharmaceuticals by 3,749.1% during the 4th quarter. Mariner LLC now owns 424,291 shares of the company's stock worth $3,360,000 after buying an additional 413,268 shares during the last quarter. Bank of America Corp DE raised its position in Amneal Pharmaceuticals by 218.8% during the 4th quarter. Bank of America Corp DE now owns 556,881 shares of the company's stock worth $4,410,000 after buying an additional 382,222 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Amneal Pharmaceuticals during the 4th quarter worth approximately $2,946,000. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Price Performance

NASDAQ:AMRX opened at $7.96 on Tuesday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -198.95 and a beta of 1.11. The company has a 50 day moving average price of $7.95 and a 200-day moving average price of $7.96. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.50 and a 1-year high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm 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 0.46% and a negative return on equity of 188.26%. On average, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Amneal Pharmaceuticals Company 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.

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