Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX – Get Free Report) major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 48,578,209 shares in the company, valued at $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Amneal Pharmaceuticals Price Performance
Shares of AMRX traded down $0.13 during trading hours on Monday, hitting $8.62. The company’s stock had a trading volume of 1,647,176 shares, compared to its average volume of 1,345,601. The business has a 50 day simple moving average of $8.30 and a two-hundred day simple 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 52-week low of $5.18 and a 52-week high of $9.48.
Amneal Pharmaceuticals (NASDAQ:AMRX – Get Free Report) last released its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $708.21 million. During the same period in the prior year, the firm earned $0.14 EPS. Research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on AMRX
Institutional Investors Weigh In On Amneal Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth about $37,000. GF Fund Management CO. LTD. purchased a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth about $52,000. Quest Partners LLC purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth about $84,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth about $81,000. Finally, Straightline Group LLC purchased a new stake in shares of Amneal Pharmaceuticals in the 4th quarter worth about $92,000. 31.82% of the stock is currently owned by institutional investors.
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.
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