Prudential Financial Inc. Has $9.38 Million Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Prudential Financial Inc. lifted its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 29.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,183,781 shares of the company’s stock after acquiring an additional 270,200 shares during the quarter. Prudential Financial Inc.’s holdings in Amneal Pharmaceuticals were worth $9,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Amneal Pharmaceuticals by 149.7% during 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 3rd quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after buying an additional 169,756 shares in the last quarter. State Street Corp grew its holdings in shares of Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after acquiring an additional 127,753 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Amneal Pharmaceuticals during the fourth quarter worth $520,000. Finally, Geode Capital Management LLC grew its stake in Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after purchasing an additional 378,136 shares in the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMRX. Barclays boosted their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.80.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $8.28 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of -12.18 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a one year low of $5.18 and a one year high of $9.48. The company’s fifty day moving average price is $8.42 and its 200 day moving average price is $8.37.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings data 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). The business had revenue of $730.52 million for the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. During the same period in the prior year, the firm posted $0.14 EPS. Analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insider Transactions at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the 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 completion of the sale, the insider now owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. This trade represents a 9.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gautam Patel sold 17,410 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,240,000 shares of company stock worth $43,754,000. Insiders own 26.56% of the company’s stock.

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.