Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 5.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 88,622 shares of the company’s stock after selling 4,944 shares during the period. Principal Financial Group Inc.’s holdings in Amneal Pharmaceuticals were worth $737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Barclays PLC raised its position in shares of Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock worth $2,466,000 after purchasing an additional 169,756 shares during the period. State Street Corp raised its holdings in Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after buying an additional 127,753 shares during the period. Bank of New York Mellon Corp lifted its stake in Amneal Pharmaceuticals by 20.7% during the second quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after buying an additional 128,772 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after buying an additional 710,598 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Amneal Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock worth $31,511,000 after acquiring an additional 378,136 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of Amneal Pharmaceuticals stock opened at $7.82 on Monday. The stock has a 50-day simple moving average of $8.28 and a 200-day simple moving average of $8.01. Amneal Pharmaceuticals, Inc. has a 52-week low of $5.01 and a 52-week high of $9.48. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -11.50 and a beta of 1.10.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. 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, October 2nd. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Amneal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

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.