Principal Financial Group Inc. Cuts Stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Principal Financial Group Inc. decreased its position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 202,017 shares of the company’s stock after selling 16,155 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Amphastar Pharmaceuticals worth $9,804,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. AlphaCentric Advisors LLC increased its position in shares of Amphastar Pharmaceuticals by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 30,000 shares of the company’s stock worth $1,456,000 after purchasing an additional 5,000 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Amphastar Pharmaceuticals in the 3rd quarter worth about $78,000. China Universal Asset Management Co. Ltd. raised its position in shares of Amphastar Pharmaceuticals by 63.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,362 shares of the company’s stock worth $454,000 after acquiring an additional 3,617 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Amphastar Pharmaceuticals in the 3rd quarter worth about $26,189,000. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Amphastar Pharmaceuticals by 3.2% during the third quarter. Arkadios Wealth Advisors now owns 26,585 shares of the company’s stock valued at $1,290,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other news, Director Floyd F. Petersen sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the director now owns 75,409 shares in the company, valued at approximately $3,504,256.23. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rong Zhou sold 6,893 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $336,929.84. Following the transaction, the executive vice president now directly owns 118,388 shares in the company, valued at approximately $5,786,805.44. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,533 shares of company stock worth $1,571,652 over the last ninety days. Company insiders own 27.10% of the company’s stock.

Amphastar Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ:AMPH opened at $44.16 on Tuesday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.89 and a beta of 0.82. Amphastar Pharmaceuticals, Inc. has a 12 month low of $36.56 and a 12 month high of $65.92. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $48.40 and a 200 day moving average price of $44.40.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMPH. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th.

Amphastar Pharmaceuticals Profile

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.