Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,685 shares of the company’s stock after selling 27,970 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amneal Pharmaceuticals were worth $4,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. raised its stake in Amneal Pharmaceuticals by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 200,246 shares of the company’s stock worth $1,586,000 after purchasing an additional 4,927 shares during the period. Geode Capital Management LLC raised its stake in Amneal Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock worth $30,207,000 after purchasing an additional 26,536 shares during the period. Russell Investments Group Ltd. raised its stake in Amneal Pharmaceuticals by 60.1% during the fourth quarter. Russell Investments Group Ltd. now owns 265,927 shares of the company’s stock worth $2,100,000 after purchasing an additional 99,807 shares during the period. Legal & General Group Plc raised its stake in Amneal Pharmaceuticals by 5.0% during the fourth quarter. Legal & General Group Plc now owns 150,709 shares of the company’s stock worth $1,194,000 after purchasing an additional 7,231 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Amneal Pharmaceuticals during the fourth quarter worth about $2,946,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $9.40 on Thursday. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.68 and a 1-year high of $9.48. The stock has a market cap of $2.95 billion, a PE ratio of 940.94 and a beta of 1.11. The firm has a 50-day simple moving average of $8.13 and a two-hundred day simple moving average of $7.97.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Amneal Pharmaceuticals had a net margin of 0.12% and a negative return on equity of 189.49%. As a group, sell-side analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Amneal Pharmaceuticals in a research note on Friday, June 6th. They set a “buy” rating and a $12.00 target price on the stock. Wall Street Zen cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.60.

Insider Activity at Amneal Pharmaceuticals

In related news, EVP Andrew S. Boyer sold 33,436 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $9.05, for a total value of $302,595.80. Following the completion of the transaction, the executive vice president owned 256,670 shares in the company, valued at approximately $2,322,863.50. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jason B. Daly sold 22,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $9.05, for a total transaction of $199,100.00. Following the completion of the transaction, the executive vice president owned 10,606 shares of the company’s stock, valued at $95,984.30. This trade represents a 67.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,436 shares of company stock worth $953,696. Corporate insiders own 26.56% 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.