Victory Capital Management Inc. Boosts Stock Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Victory Capital Management Inc. increased its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 112.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,130 shares of the company’s stock after purchasing an additional 111,915 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Amneal Pharmaceuticals worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amneal Pharmaceuticals in the 4th quarter worth about $81,000. Quest Partners LLC acquired a new position in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $84,000. Janney Montgomery Scott LLC acquired a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at about $121,000. Quadrature Capital Ltd acquired a new position in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $169,000. Finally, Entropy Technologies LP purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter valued at about $259,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ AMRX opened at $8.62 on Wednesday. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.18 and a twelve month high of $9.48. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -12.68 and a beta of 1.05. The business has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $8.36.

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

Insider Activity at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was 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 in the company, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the transaction, the director now owns 1,808,886 shares of the company’s stock, valued at $16,099,085.40. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,240,000 shares of company stock worth $43,754,000 in the last 90 days. 26.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMRX has been the topic of several analyst reports. Barclays raised their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $9.00 to $12.00 in a report on Monday, February 24th. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $10.80.

Amneal Pharmaceuticals Profile

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.