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

Mariner LLC lifted its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 3,749.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,291 shares of the company’s stock after purchasing an additional 413,268 shares during the quarter. Mariner LLC’s holdings in Amneal Pharmaceuticals were worth $3,360,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMRX. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $81,000. Straightline Group LLC bought a new position in shares of Amneal Pharmaceuticals during the fourth quarter worth about $92,000. Cibc World Markets Corp acquired a new stake in Amneal Pharmaceuticals in the 4th quarter valued at approximately $118,000. Janney Montgomery Scott LLC acquired a new position in Amneal Pharmaceuticals during the 4th quarter worth approximately $121,000. Finally, Fox Run Management L.L.C. raised its holdings in shares of Amneal Pharmaceuticals by 69.0% in the fourth quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock valued at $162,000 after purchasing an additional 8,342 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Amneal Pharmaceuticals Stock Down 3.1 %

NASDAQ:AMRX opened at $7.13 on Tuesday. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.18 and a 12-month high of $9.48. The stock’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.23. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -10.49 and a beta of 1.06.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The business had revenue of $730.52 million for the quarter, compared to analyst estimates of $708.21 million. During the same period in the prior year, the business earned $0.14 EPS. Equities research analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gautam Patel sold 80,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.14, for a total value of $651,200.00. Following the completion of the transaction, the director now directly owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,160,000 shares of company stock valued at $43,113,200. Company insiders own 26.56% of the company’s stock.

Analysts Set New Price Targets

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

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.