Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,735,743 shares of the company's stock after selling 184,836 shares during the period. Nuveen Asset Management LLC owned about 0.88% of Amneal Pharmaceuticals worth $21,667,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMRX. Mirae Asset Global Investments Co. Ltd. bought a new position in Amneal Pharmaceuticals during the 4th quarter worth about $81,000. Straightline Group LLC bought a new position in Amneal Pharmaceuticals during the 4th quarter worth about $92,000. Brevan Howard Capital Management LP bought a new position in Amneal Pharmaceuticals during the 4th quarter worth about $107,000. Cibc World Markets Corp bought a new position in Amneal Pharmaceuticals during the 4th quarter worth about $118,000. Finally, Janney Montgomery Scott LLC bought a new position in Amneal Pharmaceuticals during the 4th quarter worth about $121,000. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Price Performance

Shares of AMRX stock traded down $0.07 during mid-day trading on Wednesday, hitting $7.23. 465,231 shares of the stock traded hands, compared to its average volume of 1,711,689. The stock has a market cap of $2.26 billion, a P/E ratio of -10.62 and a beta of 1.17. The stock's fifty day moving average is $7.56 and its two-hundred day moving average is $8.03. Amneal Pharmaceuticals, Inc. has a 52-week low of $6.29 and a 52-week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The business 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%. As a group, equities analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity at Amneal Pharmaceuticals

In related news, 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 value of $712,000.00. Following the completion of the transaction, the director now directly owns 1,808,886 shares of the company's stock, valued at $16,099,085.40. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 48,578,209 shares of the company's stock, valued at $405,628,045.15. The trade was a 9.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.