Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Major Shareholder Tushar Bhikhubhai Patel Sells 5,000,000 Shares of 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 approximately $405,628,045.15. This trade represents a 9.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Amneal Pharmaceuticals Trading Down 1.5 %

Amneal Pharmaceuticals stock opened at $8.62 on Tuesday. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.18 and a 12 month high of $9.48. The stock’s 50 day moving average is $8.32 and its 200-day moving average is $8.36. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -12.68 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The firm had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. During the same period in the previous year, the company posted $0.14 EPS. As a group, equities research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMRX shares. Barclays boosted their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.80.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMRX. Aigen Investment Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at approximately $213,000. Victory Capital Management Inc. boosted its stake in shares of Amneal Pharmaceuticals by 58.7% in the third quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock valued at $825,000 after buying an additional 36,700 shares during the period. Gladius Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at approximately $37,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at approximately $84,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of Amneal Pharmaceuticals by 1.6% in the third quarter. Segall Bryant & Hamill LLC now owns 489,162 shares of the company’s stock valued at $4,070,000 after buying an additional 7,661 shares during the period. 31.82% of the stock is currently owned by institutional investors.

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.