Convergence Investment Partners LLC Acquires 49,513 Shares of Amneal Pharmaceuticals, Inc. $AMRX

Convergence Investment Partners LLC increased its position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 51.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,430 shares of the company’s stock after buying an additional 49,513 shares during the period. Convergence Investment Partners LLC’s holdings in Amneal Pharmaceuticals were worth $1,845,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management raised its stake in Amneal Pharmaceuticals by 66.6% during the fourth quarter. Spire Wealth Management now owns 2,558 shares of the company’s stock worth $32,000 after buying an additional 1,023 shares during the last quarter. Comerica Bank raised its stake in Amneal Pharmaceuticals by 186.7% during the third quarter. Comerica Bank now owns 3,005 shares of the company’s stock worth $30,000 after buying an additional 1,957 shares during the last quarter. Strs Ohio bought a new position in Amneal Pharmaceuticals during the fourth quarter worth $52,000. Focus Partners Wealth bought a new position in Amneal Pharmaceuticals during the third quarter worth $42,000. Finally, Advisory Services Network LLC bought a new position in Amneal Pharmaceuticals during the third quarter worth $50,000. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Down 2.5%

NASDAQ:AMRX opened at $11.93 on Friday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 31.40 and a beta of 1.32. The firm has a fifty day simple moving average of $12.65 and a two-hundred day simple moving average of $12.81. Amneal Pharmaceuticals, Inc. has a 12 month low of $7.02 and a 12 month high of $15.42.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter. The business had revenue of $722.52 million during the quarter. Amneal Pharmaceuticals had a net margin of 4.01% and a negative return on equity of 313.96%. Equities analysts predict that Amneal Pharmaceuticals, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMRX has been the subject of a number of analyst reports. UBS Group initiated coverage on shares of Amneal Pharmaceuticals in a research note on Friday, April 17th. They set a “buy” rating and a $19.00 target price for the company. Weiss Ratings raised shares of Amneal Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Truist Financial lifted their target price on shares of Amneal Pharmaceuticals from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, Director Deborah M. Autor sold 34,819 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $12.94, for a total value of $450,557.86. Following the completion of the sale, the director directly owned 93,660 shares in the company, valued at approximately $1,211,960.40. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 17.30% of the company’s stock.

Amneal Pharmaceuticals Profile

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.