Quantedge Capital Pte Ltd Buys New Shares in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Quantedge Capital Pte Ltd bought a new stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,500 shares of the company's stock, valued at approximately $598,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMRX. MetLife Investment Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company's stock valued at $750,000 after purchasing an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Amneal Pharmaceuticals by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company's stock worth $716,000 after acquiring an additional 2,911 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Amneal Pharmaceuticals by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company's stock worth $778,000 after acquiring an additional 4,178 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Amneal Pharmaceuticals by 13.6% in the 4th quarter. Arizona State Retirement System now owns 40,401 shares of the company's stock worth $320,000 after acquiring an additional 4,851 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Amneal Pharmaceuticals by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 200,246 shares of the company's stock worth $1,586,000 after acquiring an additional 4,927 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

Amneal Pharmaceuticals Trading Down 2.0%

Shares of AMRX stock opened at $7.35 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of -10.81 and a beta of 1.17. The firm's 50 day moving average is $7.82 and its 200 day moving average is $8.11. Amneal Pharmaceuticals, Inc. has a 12 month low of $6.29 and a 12 month high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly 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. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The company had revenue of $695.42 million during the quarter, compared to analysts' expectations of $714.78 million. On average, equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Analyst Ratings Changes

AMRX has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their target price for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $11.50.

Insider Activity at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 80,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at approximately $16,099,085.40. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value 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 trade represents a 9.33% 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 corporate insiders.

About Amneal Pharmaceuticals

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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