Tushar Bhikhubhai Patel Sells 5,000,000 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company’s stock, valued at $405,628,045.15. This trade represents a 9.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Amneal Pharmaceuticals Price Performance

Amneal Pharmaceuticals stock opened at $8.62 on Wednesday. The firm has a 50-day moving average of $8.33 and a 200-day moving average of $8.36. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -12.68 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a one year low of $5.18 and a one year high of $9.48.

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

Institutional Trading of Amneal Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $213,000. Victory Capital Management Inc. raised its stake in Amneal Pharmaceuticals by 58.7% in the third quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock valued at $825,000 after buying an additional 36,700 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Amneal Pharmaceuticals in the third quarter valued at approximately $37,000. Quest Partners LLC bought a new position in shares of Amneal Pharmaceuticals during the 3rd quarter worth approximately $84,000. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Amneal Pharmaceuticals by 1.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 489,162 shares of the company’s stock worth $4,070,000 after acquiring an additional 7,661 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMRX. 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 report on Monday, February 24th. Barclays increased their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Buy” and an average price target of $10.80.

Amneal Pharmaceuticals Company 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.