JPMorgan Chase & Co. Has $9.62 Million Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

JPMorgan Chase & Co. trimmed its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,214,972 shares of the company's stock after selling 82,122 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of Amneal Pharmaceuticals worth $9,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $81,000. Cibc World Markets Corp acquired a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth $118,000. Janney Montgomery Scott LLC purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at about $121,000. Fox Run Management L.L.C. increased its stake in shares of Amneal Pharmaceuticals by 69.0% during the fourth quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company's stock worth $162,000 after acquiring an additional 8,342 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Amneal Pharmaceuticals during the fourth quarter worth about $219,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMRX has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Barclays raised their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $10.80.

Amneal Pharmaceuticals Stock Up 2.5 %

Shares of AMRX stock traded up $0.18 during mid-day trading on Friday, hitting $7.36. 2,132,631 shares of the company's stock were exchanged, compared to its average volume of 1,415,085. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -10.82 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.18 and a fifty-two week high of $9.48. The stock has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $8.24.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). The business had revenue of $730.52 million during the quarter, compared to analysts' expectations of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same quarter last year, the firm earned $0.14 EPS. As a group, analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $8.14, for a total transaction of $651,200.00. Following the sale, the director now directly owns 1,888,886 shares in the company, valued at $15,375,532.04. The trade was a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm's 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 transaction, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. This represents a 9.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,160,000 shares of company stock valued at $43,113,200. 26.56% of the stock is currently owned by insiders.

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.