Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Major Shareholder Sells $41,750,000.00 in Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $8.73 on Thursday. Amneal Pharmaceuticals, Inc. has a 1 year low of $5.18 and a 1 year high of $9.48. The firm’s 50-day simple moving average is $8.34 and its 200-day simple moving average is $8.37. The firm has a market cap of $2.71 billion, a PE ratio of -12.84 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings data on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $730.52 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.14 EPS. On average, equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on AMRX shares. JPMorgan Chase & Co. raised shares of 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 boosted their price objective 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. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and an average target price of $10.80.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 37.3% during the fourth quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock worth $29,031,000 after purchasing an additional 995,586 shares during the period. JPMorgan Chase & Co. grew its position in shares of Amneal Pharmaceuticals by 149.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after buying an additional 777,568 shares during the last quarter. BlackBarn Capital Partners LP raised its stake in Amneal Pharmaceuticals by 18.2% during the fourth quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company’s stock worth $22,572,000 after acquiring an additional 438,388 shares during the period. Mariner LLC lifted its holdings in Amneal Pharmaceuticals by 3,749.1% in the fourth quarter. Mariner LLC now owns 424,291 shares of the company’s stock worth $3,360,000 after acquiring an additional 413,268 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Amneal Pharmaceuticals by 218.8% in the fourth quarter. Bank of America Corp DE now owns 556,881 shares of the company’s stock valued at $4,410,000 after acquiring an additional 382,222 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

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.