Mariner LLC Acquires 413,268 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Mariner LLC raised its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 3,749.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 424,291 shares of the company’s stock after buying an additional 413,268 shares during the quarter. Mariner LLC owned 0.14% of Amneal Pharmaceuticals worth $3,360,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Amneal Pharmaceuticals by 149.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company’s stock valued at $10,792,000 after acquiring an additional 777,568 shares in the last quarter. Barclays PLC lifted its position in Amneal Pharmaceuticals by 134.1% in the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after purchasing an additional 169,756 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Amneal Pharmaceuticals during the fourth quarter worth $520,000. Geode Capital Management LLC increased its holdings in Amneal Pharmaceuticals by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after buying an additional 378,136 shares during the period. Finally, Amundi acquired a new position in shares of Amneal Pharmaceuticals in the 4th quarter valued at $256,000. 31.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Barclays lifted their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.80.

Insider Buying and Selling

In other news, 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 value of $41,750,000.00. Following the transaction, the insider now owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. This trade represents a 9.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gautam Patel sold 80,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the transaction, the director now owns 1,808,886 shares in the company, valued at $16,099,085.40. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,160,000 shares of company stock worth $43,113,200 in the last quarter. Insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $7.13 on Tuesday. The business’s fifty day moving average is $8.09 and its two-hundred day moving average is $8.23. The firm has a market cap of $2.21 billion, a P/E ratio of -10.49 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a 52 week low of $5.18 and a 52 week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $708.21 million. During the same period in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

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.