Amneal Pharmaceuticals, Inc. $AMRX Stock: Tucker Asset Management LLC Reduces Holdings

Tucker Asset Management LLC lowered its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 49.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 511,064 shares of the company’s stock after selling 500,000 shares during the quarter. Amneal Pharmaceuticals comprises approximately 2.5% of Tucker Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Tucker Asset Management LLC owned 0.16% of Amneal Pharmaceuticals worth $10,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Amneal Pharmaceuticals by 72.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,549,572 shares of the company’s stock worth $32,405,000 after acquiring an additional 1,069,400 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at $17,573,000. Principal Financial Group Inc. boosted its stake in Amneal Pharmaceuticals by 527.9% in the 1st quarter. Principal Financial Group Inc. now owns 972,529 shares of the company’s stock worth $12,089,000 after purchasing an additional 817,652 shares during the period. Congress Asset Management Co. boosted its stake in Amneal Pharmaceuticals by 94.7% in the 3rd quarter. Congress Asset Management Co. now owns 1,524,355 shares of the company’s stock worth $30,701,000 after purchasing an additional 741,577 shares during the period. Finally, Quartz Partners LLC acquired a new position in Amneal Pharmaceuticals in the 1st quarter worth $5,559,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, Director John Kiely sold 50,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $17.64, for a total transaction of $882,000.00. Following the completion of the transaction, the director directly owned 210,252 shares in the company, valued at $3,708,845.28. This represents a 19.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nikita Shah sold 146,403 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $17.51, for a total transaction of $2,563,516.53. Following the transaction, the executive vice president owned 253,390 shares of the company’s stock, valued at approximately $4,436,858.90. This represents a 36.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 413,016 shares of company stock worth $7,216,567. Insiders own 17.30% of the company’s stock.

Analyst Ratings Changes

AMRX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on Amneal Pharmaceuticals from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Leerink Partners began coverage on Amneal Pharmaceuticals in a report on Wednesday, September 9th. They issued an “outperform” rating and a $23.00 price target on the stock. Wall Street Zen raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $24.00 price objective on shares of Amneal Pharmaceuticals in a report on Thursday. Finally, Barclays lifted their target price on Amneal Pharmaceuticals from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.86.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock opened at $20.44 on Tuesday. The company’s fifty day simple moving average is $19.17 and its 200-day simple moving average is $15.78. The company has a quick ratio of 1.44, a current ratio of 2.20 and a debt-to-equity ratio of 77.65. The firm has a market cap of $6.53 billion, a PE ratio of 24.58, a P/E/G ratio of 2.46 and a beta of 1.22. Amneal Pharmaceuticals, Inc. has a 12 month low of $10.68 and a 12 month high of $21.68.

Amneal Pharmaceuticals Profile

Amneal Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and commercializes a broad portfolio of generic and specialty medicines. Its products include oral, injectable and inhaled medications, as well as complex dosage forms and other products designed to address areas where manufacturing or formulation requirements can be more challenging.

The company’s generics business offers medicines across a range of therapeutic categories, including central nervous system, cardiovascular, gastrointestinal, anti-infective and other treatments.