Principal Financial Group Inc. Has $737,000 Stock Holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Principal Financial Group Inc. decreased its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.3% in the 3rd quarter, according to the company in its most recent 13F 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 period. Principal Financial Group Inc.’s holdings in Amneal Pharmaceuticals were worth $737,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMRX. Rothschild Investment LLC acquired a new stake in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $26,000. DekaBank Deutsche Girozentrale bought a new position in Amneal Pharmaceuticals in the second quarter valued at about $42,000. nVerses Capital LLC acquired a new stake in shares of Amneal Pharmaceuticals during the second quarter valued at about $62,000. Bayesian Capital Management LP bought a new stake in shares of Amneal Pharmaceuticals during the first quarter worth about $65,000. Finally, Xponance Inc. acquired a new position in shares of Amneal Pharmaceuticals in the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMRX. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Friday, September 6th. Piper Sandler boosted their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Barclays raised their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial raised their price objective on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amneal Pharmaceuticals has an average rating of “Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals Trading Up 0.8 %

Shares of Amneal Pharmaceuticals stock opened at $8.39 on Friday. The company has a market cap of $2.60 billion, a P/E ratio of -12.34 and a beta of 1.17. The business has a 50-day moving average price of $8.57 and a two-hundred day moving average price of $7.73. Amneal Pharmaceuticals, Inc. has a 1-year low of $4.16 and a 1-year high of $9.48.

Insider Buying and Selling

In related news, SVP Jason B. Daly sold 43,657 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.56% of the stock is currently owned by insiders.

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.