Legal & General Group Plc Grows Stock Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Legal & General Group Plc raised its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 150,709 shares of the company’s stock after acquiring an additional 7,231 shares during the period. Legal & General Group Plc’s holdings in Amneal Pharmaceuticals were worth $1,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amneal Pharmaceuticals in the fourth quarter valued at approximately $81,000. Cibc World Markets Corp purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter valued at $118,000. Janney Montgomery Scott LLC acquired a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth $121,000. Fox Run Management L.L.C. raised its position in shares of Amneal Pharmaceuticals by 69.0% in the 4th quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock worth $162,000 after buying an additional 8,342 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Amneal Pharmaceuticals in the fourth quarter valued at $219,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $10.80.

Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’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 transaction of $41,750,000.00. Following the completion of the sale, 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 position. The sale 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 the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the completion of the transaction, the director now directly owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,160,000 shares of company stock valued at $43,113,200. Corporate insiders own 17.45% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX opened at $7.48 on Friday. Amneal Pharmaceuticals, Inc. has a 1-year low of $5.81 and a 1-year high of $9.48. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -11.00 and a beta of 1.06. The business has a 50-day moving average of $8.06 and a 200-day moving average of $8.19.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analysts’ expectations of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same quarter in the prior year, the company earned $0.14 EPS. Research 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.