Amneal Pharmaceuticals, Inc. (NYSE:AMRX) Expected to Post Quarterly Sales of $507.36 Million


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Equities research analysts predict that Amneal Pharmaceuticals, Inc. (NYSE:AMRX) will post sales of $507.36 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Amneal Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $489.20 million and the highest estimate coming in at $535.50 million. Amneal Pharmaceuticals reported sales of $498.53 million in the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The business is expected to announce its next earnings report before the market opens on Friday, May 7th.

On average, analysts expect that Amneal Pharmaceuticals will report full year sales of $2.14 billion for the current year, with estimates ranging from $2.12 billion to $2.16 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.18 billion, with estimates ranging from $2.13 billion to $2.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Amneal Pharmaceuticals.

Amneal Pharmaceuticals (NYSE:AMRX) last posted its quarterly earnings data on Thursday, February 25th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $510.00 million for the quarter, compared to analyst estimates of $506.91 million. Amneal Pharmaceuticals had a net margin of 3.30% and a return on equity of 42.02%. Amneal Pharmaceuticals’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share.

A number of research analysts have recently issued reports on AMRX shares. The Goldman Sachs Group upgraded shares of Amneal Pharmaceuticals from a “sell” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $6.50 in a research note on Monday, March 15th. Piper Sandler boosted their price target on shares of Amneal Pharmaceuticals from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, March 19th. Barclays boosted their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. Zacks Investment Research lowered shares of Amneal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 17th. Finally, Guggenheim boosted their price target on shares of Amneal Pharmaceuticals from $6.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, April 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $6.93.

In other Amneal Pharmaceuticals news, EVP Joseph Todisco sold 36,330 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $6.82, for a total value of $247,770.60. Following the sale, the executive vice president now owns 316,270 shares of the company’s stock, valued at $2,156,961.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.32% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of Amneal Pharmaceuticals by 944.0% in the first quarter. Victory Capital Management Inc. now owns 1,787,662 shares of the company’s stock valued at $12,031,000 after buying an additional 1,616,423 shares during the last quarter. Norges Bank acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $4,999,000. Hillsdale Investment Management Inc. acquired a new position in shares of Amneal Pharmaceuticals in the first quarter valued at approximately $4,113,000. Magnetar Financial LLC acquired a new position in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $2,522,000. Finally, JPMorgan Chase & Co. raised its position in shares of Amneal Pharmaceuticals by 1,219.0% in the fourth quarter. JPMorgan Chase & Co. now owns 487,672 shares of the company’s stock valued at $2,229,000 after buying an additional 450,699 shares during the last quarter. 33.49% of the stock is currently owned by institutional investors.

NYSE AMRX traded down $0.09 during trading on Thursday, reaching $5.71. The company’s stock had a trading volume of 1,386,424 shares, compared to its average volume of 1,822,961. The company has a debt-to-equity ratio of 8.20, a quick ratio of 1.60 and a current ratio of 2.31. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.29 and a beta of 1.27. Amneal Pharmaceuticals has a twelve month low of $3.37 and a twelve month high of $7.45. The business’s fifty day moving average price is $6.26 and its 200-day moving average price is $5.14.

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. The company operates in three segments: Generics, Specialty, and AvKARE. 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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Earnings History and Estimates for Amneal Pharmaceuticals (NYSE:AMRX)

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