Parametric Portfolio Associates LLC Buys 19,091 Shares of Amphastar Pharmaceuticals, Inc. (AMPH)
Parametric Portfolio Associates LLC boosted its stake in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 72.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,615 shares of the company’s stock after purchasing an additional 19,091 shares during the period. Parametric Portfolio Associates LLC owned 0.10% of Amphastar Pharmaceuticals worth $815,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Amphastar Pharmaceuticals by 10.8% during the second quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock valued at $43,128,000 after purchasing an additional 235,033 shares during the last quarter. State Street Corp boosted its position in Amphastar Pharmaceuticals by 11.1% during the first quarter. State Street Corp now owns 1,062,439 shares of the company’s stock valued at $15,406,000 after purchasing an additional 106,448 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Amphastar Pharmaceuticals by 32.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,061,188 shares of the company’s stock valued at $15,388,000 after purchasing an additional 260,288 shares during the last quarter. Teachers Advisors LLC boosted its position in Amphastar Pharmaceuticals by 1.1% during the second quarter. Teachers Advisors LLC now owns 549,149 shares of the company’s stock valued at $9,808,000 after purchasing an additional 6,196 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Amphastar Pharmaceuticals by 2.0% during the second quarter. Northern Trust Corp now owns 485,706 shares of the company’s stock valued at $8,675,000 after purchasing an additional 9,672 shares during the last quarter. 44.32% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Stephen B. Shohet sold 7,862 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $18.04, for a total transaction of $141,830.48. Following the transaction, the director now owns 31,978 shares in the company, valued at $576,883.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael A. Zasloff sold 63,624 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.18, for a total value of $1,156,684.32. Following the transaction, the director now owns 101,879 shares in the company, valued at approximately $1,852,160.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,670 shares of company stock worth $3,009,019. 11.10% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on AMPH shares. BMO Capital Markets raised their price objective on Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Zacks Investment Research cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Raymond James Financial, Inc. cut Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Thursday, November 9th. BidaskClub cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Needham & Company LLC raised their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Amphastar Pharmaceuticals has an average rating of “Hold” and an average target price of $20.43.
Shares of Amphastar Pharmaceuticals, Inc. (AMPH) opened at $18.38 on Monday. Amphastar Pharmaceuticals, Inc. has a 52-week low of $12.05 and a 52-week high of $21.75. The stock has a market capitalization of $845.03, a P/E ratio of 122.53 and a beta of 1.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.08 and a quick ratio of 1.86.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $57.90 million for the quarter, compared to analyst estimates of $57.23 million. Amphastar Pharmaceuticals had a return on equity of 2.30% and a net margin of 0.12%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post -0.03 EPS for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Amphastar Pharmaceuticals Profile
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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