Amneal Pharmaceuticals (AMRX) Stock Rating Lowered by SunTrust Banks

SunTrust Banks lowered shares of Amneal Pharmaceuticals (NYSE:AMRX) from a buy rating to a hold rating in a research report report published on Tuesday morning, Marketbeat reports. They currently have $15.00 target price on the stock. SunTrust Banks also issued estimates for Amneal Pharmaceuticals’ Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $0.94 EPS, FY2019 earnings at $1.24 EPS and FY2020 earnings at $1.66 EPS.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated a buy rating and set a $35.00 price target on shares of Amneal Pharmaceuticals in a report on Thursday, August 9th. B. Riley upped their price target on Amneal Pharmaceuticals from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded Amneal Pharmaceuticals from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Saturday, July 14th. Canaccord Genuity reiterated a hold rating and set a $21.00 price target on shares of Amneal Pharmaceuticals in a report on Monday, August 20th. Finally, ValuEngine upgraded Amneal Pharmaceuticals from a sell rating to a hold rating in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $22.75.

AMRX opened at $18.73 on Tuesday. Amneal Pharmaceuticals has a twelve month low of $13.47 and a twelve month high of $24.48. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.01 and a quick ratio of 1.25. The company has a market capitalization of $5.51 billion, a P/E ratio of 29.73, a P/E/G ratio of 0.87 and a beta of 1.41.

Amneal Pharmaceuticals (NYSE:AMRX) last posted its earnings results on Thursday, August 9th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Amneal Pharmaceuticals had a negative return on equity of 8.74% and a negative net margin of 52.94%. The firm had revenue of $462.33 million during the quarter, compared to analyst estimates of $460.82 million. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that Amneal Pharmaceuticals will post 0.94 earnings per share for the current year.

In related news, SVP Nikita Shah sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $23.46, for a total value of $1,173,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bryan M. Reasons sold 11,698 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $23.65, for a total value of $276,657.70. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMRX. Fosun International Ltd acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $333,013,000. FMR LLC acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $130,351,000. BlackRock Inc. acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $95,312,000. TPG Group Holdings SBS Advisors Inc. acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $67,438,000. Finally, TCW Group Inc. acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at $42,390,000. Institutional investors and hedge funds own 32.41% of the company’s stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic pharmaceutical products for various dosage forms and therapeutic areas. It operates through Generic and Specialty Pharma divisions. The company's generics portfolio includes approximately 200 product families marketed in various dosage forms, such as solid oral doses comprising tablets, capsules, and powders; liquids; sterile injectables; nasal sprays; inhalation and respiratory products; ophthalmics; films; transdermal patches; and topicals, as well as soft gel, complex molecule, and drug-device combinations.

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