Northern Trust Corp Purchases 156,699 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Northern Trust Corp lifted its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,777,283 shares of the company's stock after purchasing an additional 156,699 shares during the quarter. Northern Trust Corp owned about 0.57% of Amneal Pharmaceuticals worth $14,076,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Aquatic Capital Management LLC acquired a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $456,000. Oxford Asset Management LLP acquired a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $440,000. Nebula Research & Development LLC acquired a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $368,000. Price T Rowe Associates Inc. MD boosted its stake in Amneal Pharmaceuticals by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,250 shares of the company's stock worth $771,000 after purchasing an additional 9,704 shares in the last quarter. Finally, BlackBarn Capital Partners LP boosted its stake in Amneal Pharmaceuticals by 18.2% in the 4th quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company's stock worth $22,572,000 after purchasing an additional 438,388 shares in the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMRX. Barclays lifted their target price 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. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, StockNews.com lowered shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $11.50.

Amneal Pharmaceuticals Trading Up 2.0%

AMRX opened at $7.50 on Friday. Amneal Pharmaceuticals, Inc. has a 12-month low of $6.29 and a 12-month high of $9.48. The firm has a market capitalization of $2.32 billion, a PE ratio of -11.03 and a beta of 1.17. The firm has a 50 day moving average of $7.79 and a two-hundred day moving average of $8.10.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The company had revenue of $695.42 million during the quarter, compared to analyst estimates of $714.78 million. As a group, analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the transaction, the director now directly owns 1,808,886 shares of the company's stock, valued at approximately $16,099,085.40. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

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