Amneal Pharmaceuticals (NYSE:AMRX) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Amneal Pharmaceuticals (NYSE:AMRX) from a strong-buy rating to an outperform rating in a research report released on Wednesday, The Fly reports. They currently have $8.50 price target on the stock, down from their prior price target of $13.00.

AMRX has been the subject of a number of other reports. Cantor Fitzgerald reiterated an overweight rating and set a $130.00 price objective (up from $116.00) on shares of Zoetis in a research note on Wednesday, June 12th. Barclays restated a hold rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. SunTrust Banks began coverage on Zoetis in a research note on Tuesday, March 19th. They issued a hold rating and a $100.00 price target for the company. BMO Capital Markets upped their price target on Sun Life Financial from C$58.00 to C$60.00 in a research note on Friday, May 10th. Finally, Zacks Investment Research downgraded Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Amneal Pharmaceuticals currently has an average rating of Hold and a consensus target price of $14.58.

Shares of NYSE:AMRX opened at $3.70 on Wednesday. The company’s 50 day moving average is $7.12. The company has a market cap of $1.21 billion, a P/E ratio of 3.89, a PEG ratio of 0.25 and a beta of 1.50. The company has a current ratio of 2.11, a quick ratio of 1.37 and a debt-to-equity ratio of 3.44. Amneal Pharmaceuticals has a 12-month low of $3.69 and a 12-month high of $24.48.

Amneal Pharmaceuticals (NYSE:AMRX) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.07). The company had revenue of $446.00 million for the quarter, compared to the consensus estimate of $438.18 million. Amneal Pharmaceuticals had a negative net margin of 3.75% and a positive return on equity of 32.14%. The company’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Amneal Pharmaceuticals will post 0.91 EPS for the current year.

In other Amneal Pharmaceuticals news, VP Andrew S. Boyer purchased 19,000 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $9.46 per share, with a total value of $179,740.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Pradeep Bhadauria purchased 7,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $8.48 per share, with a total value of $59,360.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 41,000 shares of company stock worth $387,300. 26.34% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMRX. Bessemer Group Inc. acquired a new stake in Amneal Pharmaceuticals in the fourth quarter worth about $34,000. Quantamental Technologies LLC boosted its holdings in Amneal Pharmaceuticals by 34.0% in the first quarter. Quantamental Technologies LLC now owns 6,700 shares of the company’s stock worth $95,000 after acquiring an additional 1,700 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Amneal Pharmaceuticals by 785.6% in the first quarter. Meeder Asset Management Inc. now owns 11,664 shares of the company’s stock worth $166,000 after purchasing an additional 10,347 shares during the last quarter. First Mercantile Trust Co. raised its stake in shares of Amneal Pharmaceuticals by 40.9% in the first quarter. First Mercantile Trust Co. now owns 11,932 shares of the company’s stock worth $169,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Amneal Pharmaceuticals in the fourth quarter worth about $174,000. 36.05% of the stock is owned by institutional investors and hedge funds.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic and specialty pharmaceutical products for various dosage forms and therapeutic areas. It operates through two segments, Generics and Specialty. The Generics segment develops, manufactures, and commercializes complex oral solids, injectables, ophthalmics, liquids, topicals, softgels, inhalation products, and transdermals across a range of therapeutic categories.

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