SunTrust Banks Comments on Amneal Pharmaceuticals Inc’s Q3 2019 Earnings (NYSE:AMRX)

Amneal Pharmaceuticals Inc (NYSE:AMRX) – Research analysts at SunTrust Banks cut their Q3 2019 earnings estimates for Amneal Pharmaceuticals in a note issued to investors on Monday, August 5th, according to Zacks Investment Research. SunTrust Banks analyst G. Gilbert now expects that the company will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.14. SunTrust Banks has a “Buy” rating and a $5.00 price target on the stock. SunTrust Banks also issued estimates for Amneal Pharmaceuticals’ FY2019 earnings at $0.50 EPS and FY2020 earnings at $0.81 EPS.

Amneal Pharmaceuticals (NYSE:AMRX) last announced its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). Amneal Pharmaceuticals had a negative net margin of 3.65% and a positive return on equity of 28.20%. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $420.12 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year.

A number of other equities analysts have also weighed in on the company. Svb Leerink upgraded Amneal Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $11.00 to $5.00 in a research report on Monday, July 22nd. BMO Capital Markets decreased their price target on Amneal Pharmaceuticals from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Barclays set a $5.00 price target on Amneal Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, July 11th. Zacks Investment Research lowered Amneal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald decreased their price target on Amneal Pharmaceuticals from $35.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Amneal Pharmaceuticals has an average rating of “Hold” and an average price target of $12.13.

Shares of AMRX stock opened at $2.40 on Thursday. The company has a quick ratio of 1.41, a current ratio of 2.17 and a debt-to-equity ratio of 3.66. Amneal Pharmaceuticals has a fifty-two week low of $2.38 and a fifty-two week high of $24.48. The stock has a market capitalization of $852.41 million, a P/E ratio of 2.53, a P/E/G ratio of 0.35 and a beta of 1.41. The stock has a 50-day simple moving average of $4.30 and a 200 day simple moving average of $9.69.

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Amneal Pharmaceuticals by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,757,628 shares of the company’s stock valued at $69,962,000 after buying an additional 218,497 shares during the last quarter. BlackRock Inc. grew its holdings in Amneal Pharmaceuticals by 9.4% in the 2nd quarter. BlackRock Inc. now owns 6,394,923 shares of the company’s stock valued at $45,852,000 after buying an additional 549,217 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Amneal Pharmaceuticals in the 2nd quarter valued at approximately $23,772,000. TCW Group Inc. grew its holdings in 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 during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in 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 during the last quarter. 34.63% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Andrew S. Boyer acquired 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $2.89 per share, with a total value of $192,664.74. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder International Ltd Fosun acquired 1,642,300 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $3.04 per share, for a total transaction of $4,992,592.00. The disclosure for this purchase can be found here. 26.34% of the stock is owned by company insiders.

Amneal Pharmaceuticals Company Profile

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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Earnings History and Estimates for Amneal Pharmaceuticals (NYSE:AMRX)

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