Convergence Investment Partners LLC Increases Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Convergence Investment Partners LLC raised its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRXFree Report) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,009 shares of the company’s stock after buying an additional 41,161 shares during the quarter. Convergence Investment Partners LLC owned about 0.07% of Amneal Pharmaceuticals worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $37,000. Quest Partners LLC bought a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $84,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Amneal Pharmaceuticals in the fourth quarter worth $81,000. Janney Montgomery Scott LLC bought a new stake in Amneal Pharmaceuticals in the fourth quarter worth $121,000. Finally, Quadrature Capital Ltd bought a new stake in Amneal Pharmaceuticals in the third quarter worth $169,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total value of $139,454.10. Following the transaction, the director now owns 2,031,476 shares in the company, valued at $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 160,000 shares of company stock worth $1,292,000. Company insiders own 17.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMRX shares. Piper Sandler lifted their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Check Out Our Latest Stock Report on AMRX

Amneal Pharmaceuticals Stock Performance

Shares of Amneal Pharmaceuticals stock opened at $7.79 on Wednesday. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $9.48. The stock’s fifty day moving average price is $8.05 and its 200-day moving average price is $8.27.

About Amneal Pharmaceuticals

(Free Report)

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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Institutional Ownership by Quarter for Amneal Pharmaceuticals (NASDAQ:AMRX)

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