Principal Financial Group Inc. raised its position in Impax Laboratories Inc. (NASDAQ:IPXL) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 498,327 shares of the specialty pharmaceutical company’s stock after buying an additional 21,081 shares during the period. Principal Financial Group Inc. owned 0.70% of Impax Laboratories worth $14,361,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC boosted its position in shares of Impax Laboratories by 198.5% in the second quarter. Acrospire Investment Management LLC now owns 3,910 shares of the specialty pharmaceutical company’s stock worth $113,000 after buying an additional 2,600 shares during the last quarter. BlackRock Inc. boosted its position in shares of Impax Laboratories by 128.2% in the first quarter. BlackRock Inc. now owns 4,834 shares of the specialty pharmaceutical company’s stock worth $154,000 after buying an additional 2,716 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Impax Laboratories by 5.2% in the second quarter. Teacher Retirement System of Texas now owns 8,615 shares of the specialty pharmaceutical company’s stock worth $248,000 after buying an additional 424 shares during the last quarter. Foundry Partners LLC boosted its position in shares of Impax Laboratories by 29.4% in the second quarter. Foundry Partners LLC now owns 10,260 shares of the specialty pharmaceutical company’s stock worth $296,000 after buying an additional 2,330 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of Impax Laboratories during the first quarter worth approximately $307,000. 88.17% of the stock is owned by institutional investors and hedge funds.
Impax Laboratories Inc. (NASDAQ:IPXL) traded down 1.13% on Friday, reaching $23.56. 710,945 shares of the company’s stock were exchanged. Impax Laboratories Inc. has a one year low of $20.97 and a one year high of $45.00. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 49.92 and a beta of 1.21. The firm has a 50 day moving average of $24.64 and a 200-day moving average of $29.65.
Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.11. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The business had revenue of $173 million for the quarter, compared to analysts’ expectations of $223.67 million. During the same period in the previous year, the company earned $0.34 EPS. Impax Laboratories’s quarterly revenue was down 19.4% compared to the same quarter last year. Equities research analysts forecast that Impax Laboratories Inc. will post $1.59 EPS for the current fiscal year.
A number of equities analysts have commented on IPXL shares. Zacks Investment Research raised shares of Impax Laboratories from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, July 12th. WallachBeth Capital dropped their price objective on shares of Impax Laboratories from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Deutsche Bank AG lowered their target price on shares of Impax Laboratories from $42.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd. Leerink Swann restated a “market perform” rating and issued a $31.00 target price on shares of Impax Laboratories in a report on Wednesday, June 22nd. Finally, BMO Capital Markets started coverage on shares of Impax Laboratories in a report on Tuesday, June 28th. They issued a “market perform” rating and a $30.00 target price for the company. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $33.43.
In other news, Director Leslie Z. Benet sold 10,092 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $22.81, for a total transaction of $230,198.52. Following the completion of the sale, the director now owns 40,225 shares of the company’s stock, valued at $917,532.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.30% of the company’s stock.
Impax Laboratories Company Profile
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
Receive News & Ratings for Impax Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impax Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.