Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Amneal Pharmaceuticals, Inc. $AMRX

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 602,468 shares of the company’s stock after buying an additional 74,783 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amneal Pharmaceuticals were worth $4,874,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AMRX. Headlands Technologies LLC acquired a new position in Amneal Pharmaceuticals during the first quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amneal Pharmaceuticals by 16.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,107 shares of the company’s stock valued at $98,000 after acquiring an additional 1,735 shares during the period. Xponance Inc. boosted its position in shares of Amneal Pharmaceuticals by 16.1% during the 1st quarter. Xponance Inc. now owns 13,183 shares of the company’s stock worth $110,000 after purchasing an additional 1,828 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Amneal Pharmaceuticals during the 2nd quarter worth $113,000. Finally, 111 Capital purchased a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $115,000. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Price Performance

AMRX stock opened at $11.52 on Friday. The company’s 50 day simple moving average is $10.33 and its 200-day simple moving average is $8.90. Amneal Pharmaceuticals, Inc. has a 12 month low of $6.68 and a 12 month high of $12.12. The firm has a market capitalization of $3.62 billion, a PE ratio of 1,153.15 and a beta of 1.21.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Thursday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $784.51 million for the quarter. Amneal Pharmaceuticals had a negative return on equity of 189.49% and a net margin of 0.12%. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.750-0.80 EPS. As a group, sell-side analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMRX. Weiss Ratings restated a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Amneal Pharmaceuticals from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price objective (up from $11.00) on shares of Amneal Pharmaceuticals in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Insider Activity at Amneal Pharmaceuticals

In related news, EVP Nikita Shah sold 6,340 shares of Amneal Pharmaceuticals stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $9.50, for a total transaction of $60,230.00. Following the completion of the sale, the executive vice president owned 146,403 shares in the company, valued at approximately $1,390,828.50. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Kiely sold 32,000 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $9.23, for a total transaction of $295,360.00. Following the completion of the transaction, the director directly owned 225,433 shares of the company’s stock, valued at $2,080,746.59. The trade was a 12.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 432,076 shares of company stock valued at $4,080,891 over the last quarter. Insiders own 17.45% of the company’s stock.

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.