Hsbc Holdings PLC Sells 247,568 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Hsbc Holdings PLC trimmed its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 85.0% during the second quarter, HoldingsChannel reports. The fund owned 43,841 shares of the company’s stock after selling 247,568 shares during the quarter. Hsbc Holdings PLC’s holdings in Amneal Pharmaceuticals were worth $279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMRX. Renaissance Technologies LLC lifted its stake in shares of Amneal Pharmaceuticals by 28.2% in the 2nd quarter. Renaissance Technologies LLC now owns 682,700 shares of the company’s stock valued at $4,335,000 after purchasing an additional 149,970 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after buying an additional 641,405 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Amneal Pharmaceuticals during the second quarter valued at about $42,000. Acadian Asset Management LLC increased its position in shares of Amneal Pharmaceuticals by 701.8% during the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after acquiring an additional 710,598 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Amneal Pharmaceuticals during the 2nd quarter valued at about $1,027,000. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on AMRX. Truist Financial upped their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays increased their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price objective for the company in a report on Friday, September 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Amneal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Amneal Pharmaceuticals Stock Performance

AMRX stock opened at $8.55 on Friday. The stock’s fifty day moving average price is $8.14 and its 200-day moving average price is $7.05. The company has a debt-to-equity ratio of 121.31, a current ratio of 1.33 and a quick ratio of 0.82. The company has a market cap of $2.64 billion, a P/E ratio of -15.27 and a beta of 1.18. Amneal Pharmaceuticals, Inc. has a 1 year low of $3.36 and a 1 year high of $8.94.

Amneal Pharmaceuticals (NASDAQ:AMRX) last released its earnings results on Friday, August 9th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. On average, equities analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.52 earnings per share for the current year.

About Amneal Pharmaceuticals

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.