Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Major Shareholder Tushar Bhikhubhai Patel Sells 5,000,000 Shares

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 shares were sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the transaction, the insider now owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Amneal Pharmaceuticals Stock Down 1.5 %

Shares of AMRX stock traded down $0.13 during trading hours on Monday, hitting $8.62. 1,647,176 shares of the company’s stock traded hands, compared to its average volume of 1,345,601. The stock’s 50 day simple moving average is $8.30 and its 200 day simple moving average is $8.36. The stock has a market cap of $2.67 billion, a PE ratio of -12.68 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.18 and a 12 month high of $9.48.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Finally, Barclays upped their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.80.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently modified their holdings of the company. MetLife Investment Management LLC grew its holdings in Amneal Pharmaceuticals by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company’s stock worth $750,000 after purchasing an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Amneal Pharmaceuticals by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company’s stock valued at $716,000 after buying an additional 2,911 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Amneal Pharmaceuticals by 4.9% during the third quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock valued at $778,000 after buying an additional 4,178 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Amneal Pharmaceuticals during the third quarter valued at about $37,000. Finally, Arizona State Retirement System grew its holdings in shares of Amneal Pharmaceuticals by 13.6% during the fourth quarter. Arizona State Retirement System now owns 40,401 shares of the company’s stock valued at $320,000 after buying an additional 4,851 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

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.