Canada Pension Plan Investment Board Grows Stock Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Canada Pension Plan Investment Board lifted its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,300 shares of the company’s stock after acquiring an additional 8,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Amneal Pharmaceuticals were worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Amneal Pharmaceuticals Stock Performance

AMRX opened at $7.25 on Wednesday. The business’s 50 day moving average price is $8.08 and its 200 day moving average price is $8.22. The stock has a market capitalization of $2.25 billion, a PE ratio of -10.66 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a one year low of $5.36 and a one year high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The business had revenue of $730.52 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.14 earnings per share. As a group, equities research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMRX has been the subject of several recent research reports. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price target for the company from $9.00 to $12.00 in a report on Monday, February 24th. Barclays raised their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.80.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, Director Gautam Patel sold 80,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total value of $712,000.00. Following the completion of the sale, the director now owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. This trade represents a 4.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,160,000 shares of company stock worth $43,113,200 over the last three months. Insiders own 17.45% of the company’s stock.

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.