Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,622 shares of the company’s stock after selling 4,944 shares during the quarter. Principal Financial Group Inc.’s holdings in Amneal Pharmaceuticals were worth $737,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMRX. Gladius Capital Management LP bought a new position in shares of Amneal Pharmaceuticals during the third quarter worth about $37,000. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals during the second quarter valued at approximately $42,000. Quest Partners LLC bought a new position in Amneal Pharmaceuticals during the 3rd quarter worth approximately $84,000. Xponance Inc. acquired a new position in shares of Amneal Pharmaceuticals in the 2nd quarter worth approximately $65,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at approximately $169,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:AMRX opened at $7.82 on Monday. The firm’s 50 day moving average is $8.28 and its two-hundred day moving average is $8.01. The firm has a market capitalization of $2.42 billion, a P/E ratio of -11.50 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 52 week low of $5.01 and a 52 week high of $9.48.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMRX shares. Piper Sandler raised their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Transactions at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the completion of the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 26.56% of the company’s stock.

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.