Amneal Pharmaceuticals (NYSE:AMRX) Cut to Outperform at Raymond James

Raymond James lowered shares of Amneal Pharmaceuticals (NYSE:AMRX) from a strong-buy rating to an outperform rating in a research note issued to investors on Wednesday morning, The Fly reports. Raymond James currently has $8.50 price objective on the stock, down from their previous price objective of $13.00.

A number of other research analysts also recently commented on AMRX. Zacks Investment Research downgraded shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. ValuEngine downgraded shares of Whiting USA Trust II from a hold rating to a sell rating in a research report on Tuesday, May 7th. BMO Capital Markets raised their target price on shares of Sun Life Financial from C$58.00 to C$60.00 in a research report on Friday, May 10th. SunTrust Banks assumed coverage on shares of Zoetis in a research report on Tuesday, March 19th. They set a hold rating and a $100.00 target price on the stock. Finally, Barclays reissued a hold rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $14.58.

NYSE AMRX opened at $3.70 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.11 and a debt-to-equity ratio of 3.44. The stock has a market cap of $1.21 billion, a P/E ratio of 4.35, a price-to-earnings-growth ratio of 0.25 and a beta of 1.50. The firm’s 50-day simple moving average is $7.12. Amneal Pharmaceuticals has a one year low of $3.69 and a one year high of $24.48.

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

In other news, SVP Pradeep Bhadauria purchased 7,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $8.48 per share, for a total transaction of $59,360.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Andrew S. Boyer purchased 19,000 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $9.46 per share, for a total transaction of $179,740.00. The disclosure for this purchase can be found here. Insiders bought a total of 41,000 shares of company stock worth $387,300 over the last 90 days. Company insiders own 26.34% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Amneal Pharmaceuticals by 2.1% in the 4th quarter. BlackRock Inc. now owns 6,053,727 shares of the company’s stock valued at $81,909,000 after buying an additional 121,800 shares in the last quarter. TCW Group Inc. boosted its holdings in shares of Amneal Pharmaceuticals by 2.8% in the 1st quarter. TCW Group Inc. now owns 2,302,363 shares of the company’s stock valued at $32,625,000 after buying an additional 63,423 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Amneal Pharmaceuticals by 1.7% in the 1st quarter. Neuberger Berman Group LLC now owns 1,709,999 shares of the company’s stock valued at $24,227,000 after buying an additional 28,747 shares in the last quarter. Norges Bank bought a new stake in shares of Amneal Pharmaceuticals in the 4th quarter valued at about $18,243,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Amneal Pharmaceuticals by 13.9% in the 4th quarter. Geode Capital Management LLC now owns 889,980 shares of the company’s stock valued at $12,041,000 after buying an additional 108,455 shares in the last quarter. Institutional investors and hedge funds own 36.05% of the company’s stock.

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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