Diametric Capital LP Takes $252,000 Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Diametric Capital LP bought a new position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 31,782 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Amneal Pharmaceuticals during the 4th quarter worth approximately $81,000. Cibc World Markets Corp bought a new stake in Amneal Pharmaceuticals during the fourth quarter worth $118,000. Janney Montgomery Scott LLC purchased a new stake in Amneal Pharmaceuticals in the 4th quarter valued at $121,000. Fox Run Management L.L.C. lifted its stake in Amneal Pharmaceuticals by 69.0% during the 4th quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock valued at $162,000 after acquiring an additional 8,342 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Amneal Pharmaceuticals during the 3rd quarter worth $169,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Insider Activity

In other news, Director Gautam Patel sold 62,590 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90. Following the sale, the director now directly owns 1,968,886 shares in the company, valued at $15,770,776.86. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,240,000 shares of company stock valued at $43,754,000 over the last quarter. Company insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Trading Down 1.8 %

Amneal Pharmaceuticals stock opened at $8.23 on Wednesday. The business’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $8.37. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.18 and a 12 month high of $9.48. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -12.10 and a beta of 1.05.

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 firm had revenue of $730.52 million for the quarter, compared to the consensus estimate of $708.21 million. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $9.00 to $12.00 in a research report on Monday, February 24th. Barclays boosted their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Finally, StockNews.com lowered 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, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $10.80.

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.