Smith Asset Management Group LP bought a new position in shares of Amneal Pharmaceuticals Inc (NYSE:AMRX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,980 shares of the company’s stock, valued at approximately $2,463,000.
A number of other institutional investors also recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $203,000. Bank of Montreal Can purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $541,000. Scout Investments Inc. purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $1,752,000. Fox Run Management L.L.C. purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $228,000. Finally, Boston Advisors LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $613,000. Institutional investors own 31.84% of the company’s stock.
Several analysts have recently commented on AMRX shares. B. Riley increased their price objective on Amneal Pharmaceuticals from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Cantor Fitzgerald reiterated a “buy” rating and set a $35.00 price objective on shares of Amneal Pharmaceuticals in a report on Thursday, August 9th. Zacks Investment Research upgraded Amneal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Saturday, July 14th. ValuEngine upgraded Amneal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Canaccord Genuity reiterated a “hold” rating and set a $21.00 price objective on shares of Amneal Pharmaceuticals in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Amneal Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $22.75.
Amneal Pharmaceuticals (NYSE:AMRX) last issued its earnings results on Thursday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $462.33 million during the quarter, compared to analyst estimates of $460.82 million. Amneal Pharmaceuticals had a negative return on equity of 8.74% and a negative net margin of 52.94%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts forecast that Amneal Pharmaceuticals Inc will post 0.94 EPS for the current fiscal year.
In related news, SVP Nikita Shah sold 50,000 shares of the firm’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 is accessible through the SEC website. Also, CFO Bryan M. Reasons sold 11,698 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was 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. Company insiders own 3.20% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright legislation. The original version of this piece can be accessed at https://weekherald.com/2018/11/07/smith-asset-management-group-lp-invests-2-46-million-in-amneal-pharmaceuticals-inc-amrx-stock.html.
Amneal Pharmaceuticals Company Profile
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.
Read More: What is a Swap?
Want to see what other hedge funds are holding AMRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amneal Pharmaceuticals Inc (NYSE:AMRX).
Receive News & Ratings for Amneal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amneal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.