Massachusetts Financial Services Co. MA Lowers Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,662 shares of the company’s stock after selling 4,617 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.06% of Amneal Pharmaceuticals worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMRX. Intech Investment Management LLC bought a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth $307,000. Segall Bryant & Hamill LLC increased its holdings in Amneal Pharmaceuticals by 1.6% during the third quarter. Segall Bryant & Hamill LLC now owns 489,162 shares of the company’s stock worth $4,070,000 after buying an additional 7,661 shares during the last quarter. Quest Partners LLC bought a new stake in Amneal Pharmaceuticals in the third quarter worth about $84,000. Gladius Capital Management LP purchased a new position in Amneal Pharmaceuticals in the third quarter valued at about $37,000. Finally, Victory Capital Management Inc. grew its position in shares of Amneal Pharmaceuticals by 58.7% during the 3rd quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock valued at $825,000 after acquiring an additional 36,700 shares during the period. Institutional investors own 31.82% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares in the company, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.46% of the stock is owned by company insiders.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $8.35 on Thursday. The firm has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $7.76. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -12.28 and a beta of 1.17. Amneal Pharmaceuticals, Inc. has a one year low of $4.16 and a one year high of $9.48.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMRX shares. StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Truist Financial increased their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler boosted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Barclays raised their price objective on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.00.

Amneal Pharmaceuticals Company 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.