Wall Street analysts expect Amneal Pharmaceuticals Inc (NYSE:AMRX) to post sales of $493.92 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Amneal Pharmaceuticals’ earnings, with estimates ranging from $479.90 million to $512.40 million. Amneal Pharmaceuticals reported sales of $206.39 million in the same quarter last year, which suggests a positive year over year growth rate of 139.3%. The business is expected to issue its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Amneal Pharmaceuticals will report full year sales of $1.91 billion for the current financial year, with estimates ranging from $1.85 billion to $1.95 billion. For the next year, analysts forecast that the business will post sales of $2.13 billion per share, with estimates ranging from $1.99 billion to $2.31 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Amneal Pharmaceuticals.
Amneal Pharmaceuticals (NYSE:AMRX) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $462.33 million during the quarter, compared to the consensus estimate of $460.82 million. Amneal Pharmaceuticals had a negative return on equity of 8.74% and a negative net margin of 52.94%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada raised Amneal Pharmaceuticals from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 13th. Zacks Investment Research raised Amneal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Saturday, July 14th. Guggenheim reaffirmed a “hold” rating on shares of Amneal Pharmaceuticals in a research note on Friday, May 18th. Morgan Stanley assumed coverage on Amneal Pharmaceuticals in a research note on Monday, July 23rd. They set an “overweight” rating and a $22.00 price target for the company. Finally, BMO Capital Markets raised their price target on Amneal Pharmaceuticals from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Friday, August 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Amneal Pharmaceuticals has an average rating of “Hold” and an average target price of $23.57.
In related news, CFO Bryan M. Reasons sold 11,698 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $23.65, for a total value of $276,657.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nikita Shah sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $23.46, for a total value of $1,173,000.00. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of AMRX. Fosun International Ltd bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $333,013,000. FMR LLC bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $130,351,000. BlackRock Inc. bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $95,312,000. TPG Group Holdings SBS Advisors Inc. bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $67,438,000. Finally, TCW Group Inc. bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter valued at approximately $42,390,000. 32.39% of the stock is currently owned by institutional investors and hedge funds.
Amneal Pharmaceuticals stock traded up $0.35 during mid-day trading on Friday, hitting $23.85. The company’s stock had a trading volume of 776,400 shares, compared to its average volume of 1,154,129. The company has a market cap of $6.89 billion, a P/E ratio of 37.56, a P/E/G ratio of 1.02 and a beta of 1.38. The company has a current ratio of 2.01, a quick ratio of 1.25 and a debt-to-equity ratio of 2.85. Amneal Pharmaceuticals has a 52-week low of $13.47 and a 52-week high of $25.70.
Amneal Pharmaceuticals Company Profile
Amneal Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and distributes generic pharmaceutical products for various dosage forms and therapeutic areas. It operates through Generic and Specialty Pharma divisions. The company's generics portfolio includes approximately 200 product families marketed in various dosage forms, such as solid oral doses comprising tablets, capsules, and powders; liquids; sterile injectables; nasal sprays; inhalation and respiratory products; ophthalmics; films; transdermal patches; and topicals, as well as soft gel, complex molecule, and drug-device combinations.
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