Principal Financial Group Inc. Purchases 8,213 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Principal Financial Group Inc. raised its position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,835 shares of the company’s stock after purchasing an additional 8,213 shares during the quarter. Principal Financial Group Inc.’s holdings in Amneal Pharmaceuticals were worth $767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Amneal Pharmaceuticals by 3.5% in the 4th quarter. Rhumbline Advisers now owns 232,264 shares of the company’s stock worth $1,840,000 after purchasing an additional 7,875 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Amneal Pharmaceuticals in the 4th quarter worth approximately $286,000. Entropy Technologies LP bought a new stake in Amneal Pharmaceuticals during the 4th quarter worth approximately $259,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amneal Pharmaceuticals during the fourth quarter valued at approximately $81,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Amneal Pharmaceuticals in the fourth quarter worth approximately $520,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

AMRX stock opened at $8.76 on Friday. The firm has a market cap of $2.71 billion, a PE ratio of -12.88 and a beta of 1.10. The firm has a fifty day moving average price of $8.18 and a 200 day moving average price of $8.34. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.18 and a fifty-two week high of $9.48.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays upped their target price on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Piper Sandler boosted their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $10.80.

Insider Activity

In related news, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total transaction of $501,345.90. Following the transaction, the director now directly owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 240,000 shares of company stock valued at $2,004,000. Corporate 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.