Truist Financial Corp Trims Stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Truist Financial Corp trimmed its holdings in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,485 shares of the company’s stock after selling 895 shares during the quarter. Truist Financial Corp’s holdings in Amphastar Pharmaceuticals were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in Amphastar Pharmaceuticals by 67.4% during the 2nd quarter. TD Asset Management Inc now owns 1,691,569 shares of the company’s stock valued at $67,663,000 after acquiring an additional 680,976 shares during the period. Millennium Management LLC boosted its holdings in Amphastar Pharmaceuticals by 84.6% during the 2nd quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock valued at $29,550,000 after acquiring an additional 338,653 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Amphastar Pharmaceuticals by 35.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock valued at $43,154,000 after acquiring an additional 280,390 shares during the period. Marshall Wace LLP purchased a new stake in Amphastar Pharmaceuticals during the 2nd quarter valued at about $9,085,000. Finally, American Century Companies Inc. boosted its holdings in Amphastar Pharmaceuticals by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock valued at $29,616,000 after acquiring an additional 121,764 shares during the period. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH opened at $49.31 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.52 and a quick ratio of 2.63. Amphastar Pharmaceuticals, Inc. has a one year low of $36.56 and a one year high of $65.92. The firm has a market capitalization of $2.41 billion, a P/E ratio of 17.06, a PEG ratio of 0.88 and a beta of 0.83. The business has a fifty day moving average of $46.56 and a 200 day moving average of $42.99.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. The business had revenue of $182.39 million during the quarter, compared to analyst estimates of $171.29 million. As a group, sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMPH shares. Piper Sandler dropped their target price on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

Insider Activity

In other news, CFO William J. Peters sold 10,282 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.23, for a total value of $454,772.86. Following the transaction, the chief financial officer now directly owns 94,103 shares in the company, valued at $4,162,175.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO William J. Peters sold 10,282 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.23, for a total transaction of $454,772.86. Following the transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $4,162,175.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard K. Prins sold 17,101 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $43.07, for a total value of $736,540.07. Following the transaction, the director now directly owns 33,971 shares in the company, valued at approximately $1,463,130.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,383 shares of company stock worth $1,524,123 over the last ninety days. Corporate insiders own 27.10% of the company’s stock.

Amphastar Pharmaceuticals Company 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.