Profund Advisors LLC Buys 71,343 Shares of Amneal Pharmaceuticals, Inc. $AMRX

Key Points

• Profund Advisors increased its Amneal Pharmaceuticals stake by 279.3% in the third quarter, acquiring 71,343 shares and bringing its holdings to 96,883 shares worth approximately $1.95 million.
• Amneal insiders sold 413,016 shares worth about $7.2 million over the past 90 days, including significant sales by Director John Kiely and EVP Jason Daly.
• Amneal shares opened at $21.51, near their 52-week high of $21.68. Analysts maintain a “Moderate Buy” consensus, with an average price target of $22.86.

Profund Advisors LLC boosted its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 279.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,883 shares of the company's stock after acquiring an additional 71,343 shares during the period. Profund Advisors LLC's holdings in Amneal Pharmaceuticals were worth $1,951,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Amneal Pharmaceuticals by 54.9% during the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company's stock valued at $32,000 after buying an additional 569 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Amneal Pharmaceuticals by 100.9% in the third quarter. Fortitude Family Office LLC now owns 1,607 shares of the company's stock worth $32,000 after purchasing an additional 807 shares during the period. Sterling Capital Management LLC increased its stake in Amneal Pharmaceuticals by 30.3% during the third quarter. Sterling Capital Management LLC now owns 3,549 shares of the company's stock valued at $71,000 after purchasing an additional 825 shares during the last quarter. Arizona State Retirement System increased its stake in Amneal Pharmaceuticals by 1.9% during the second quarter. Arizona State Retirement System now owns 44,011 shares of the company's stock valued at $762,000 after purchasing an additional 837 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in Amneal Pharmaceuticals by 2.9% during the third quarter. Yousif Capital Management LLC now owns 42,839 shares of the company's stock valued at $863,000 after purchasing an additional 1,197 shares during the last quarter. 31.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amneal Pharmaceuticals

In related news, Director John Kiely sold 50,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $17.64, for a total value of $882,000.00. Following the completion of the sale, the director owned 210,252 shares of the company's stock, valued at $3,708,845.28. This represents a 19.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jason 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 transaction, the executive vice president owned 35,171 shares of the company's stock, valued at $611,975.40. This represents a 85.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 413,016 shares of company stock worth $7,216,567 over the last ninety days. 17.30% of the stock is currently owned by corporate insiders.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $21.51 on Monday. The firm's 50 day moving average is $19.12 and its two-hundred day moving average is $15.74. The firm has a market capitalization of $6.87 billion, a P/E ratio of 43.90, a PEG ratio of 2.51 and a beta of 1.22. The company has a current ratio of 2.20, a quick ratio of 1.44 and a debt-to-equity ratio of 77.65. Amneal Pharmaceuticals, Inc. has a 52 week low of $10.06 and a 52 week high of $21.68.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $796.20 million for the quarter. Amneal Pharmaceuticals had a negative return on equity of 584.46% and a net margin of 5.05%. Analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Amneal Pharmaceuticals from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Barclays boosted their price objective on shares of Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, September 17th. Wall Street Zen upgraded Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Zacks Research upgraded Amneal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Monday, October 26th. Finally, Weiss Ratings raised Amneal Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.86.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include oral, injectable and inhaled medications, as well as complex dosage forms and other products designed to address areas where manufacturing or formulation requirements can be more challenging.

The company's generics business offers medicines across a range of therapeutic categories, including central nervous system, cardiovascular, gastrointestinal, anti-infective and other treatments.

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