State of Wyoming Reduces Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

State of Wyoming trimmed its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,452 shares of the company’s stock after selling 4,184 shares during the quarter. State of Wyoming’s holdings in Amneal Pharmaceuticals were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals in the fourth quarter valued at approximately $81,000. Straightline Group LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth approximately $92,000. Brevan Howard Capital Management LP acquired a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at $107,000. Cibc World Markets Corp purchased a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at $118,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at $121,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business’s stock in a transaction on 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 directly owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. The trade was a 9.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the sale, the director now owns 1,808,886 shares of the company’s stock, valued at $16,099,085.40. This trade represents a 4.24% decrease in their position. The disclosure for this sale can be found here. 26.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMRX shares. Barclays boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $9.00 to $12.00 in a report on Monday, February 24th. Finally, Wall Street Zen downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Buy” and an average price target of $11.50.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $7.19 on Friday. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.29 and a 1-year high of $9.48. The stock has a market cap of $2.25 billion, a P/E ratio of -10.57 and a beta of 1.17. The firm has a fifty day moving average price of $7.65 and a 200 day moving average price of $8.06.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating 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 business had revenue of $695.42 million during the quarter, compared to analysts’ expectations of $714.78 million. Sell-side analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

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.