Massachusetts Financial Services Co. MA Sells 4,617 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Massachusetts Financial Services Co. MA trimmed its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 2.4% in the third quarter, HoldingsChannel reports. The fund owned 190,662 shares of the company’s stock after selling 4,617 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Amneal Pharmaceuticals were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AMRX. Rothschild Investment LLC bought a new stake in Amneal Pharmaceuticals in the second quarter worth $26,000. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Amneal Pharmaceuticals in the 2nd quarter valued at about $42,000. nVerses Capital LLC purchased a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at about $62,000. Finally, Bayesian Capital Management LP bought a new position in Amneal Pharmaceuticals during the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Insider Transactions at Amneal Pharmaceuticals

In other news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. This represents a 76.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.46% of the company’s stock.

Amneal Pharmaceuticals Price Performance

AMRX stock opened at $8.35 on Thursday. Amneal Pharmaceuticals, Inc. has a 1 year low of $4.16 and a 1 year high of $9.48. The firm has a 50-day moving average of $8.54 and a 200 day moving average of $7.76. The company has a market cap of $2.59 billion, a P/E ratio of -12.28 and a beta of 1.17.

Wall Street Analysts Forecast Growth

AMRX has been the subject of a number of analyst reports. Barclays increased their price objective on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, September 6th. Finally, Truist Financial raised their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals 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.