Geode Capital Management LLC Lowers Position in Impax Laboratories Inc (IPXL)

Geode Capital Management LLC trimmed its holdings in Impax Laboratories Inc (NASDAQ:IPXL) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 658,031 shares of the specialty pharmaceutical company’s stock after selling 7,690 shares during the period. Geode Capital Management LLC’s holdings in Impax Laboratories were worth $10,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Maverick Capital Ltd. grew its stake in Impax Laboratories by 12.8% in the 4th quarter. Maverick Capital Ltd. now owns 7,327,798 shares of the specialty pharmaceutical company’s stock valued at $122,008,000 after acquiring an additional 833,500 shares during the last quarter. TCW Group Inc. grew its stake in Impax Laboratories by 3,904.5% in the 4th quarter. TCW Group Inc. now owns 1,987,950 shares of the specialty pharmaceutical company’s stock valued at $33,099,000 after acquiring an additional 1,938,307 shares during the last quarter. GW&K Investment Management LLC grew its stake in Impax Laboratories by 147.5% in the 4th quarter. GW&K Investment Management LLC now owns 1,859,924 shares of the specialty pharmaceutical company’s stock valued at $30,968,000 after acquiring an additional 1,108,348 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Impax Laboratories in the 3rd quarter valued at about $28,573,000. Finally, Stifel Financial Corp grew its stake in Impax Laboratories by 8.3% in the 3rd quarter. Stifel Financial Corp now owns 689,931 shares of the specialty pharmaceutical company’s stock valued at $14,007,000 after acquiring an additional 53,068 shares during the last quarter. 90.40% of the stock is currently owned by hedge funds and other institutional investors.

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Impax Laboratories stock opened at $18.95 on Friday. Impax Laboratories Inc has a 12-month low of $12.45 and a 12-month high of $25.70. The stock has a market cap of $1,441.76, a price-to-earnings ratio of 30.08, a PEG ratio of 0.87 and a beta of 1.17. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.52 and a current ratio of 1.96.

Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Thursday, March 1st. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Impax Laboratories had a positive return on equity of 10.42% and a negative net margin of 60.49%. The company had revenue of $182.90 million during the quarter, compared to analyst estimates of $199.13 million. During the same period in the prior year, the business posted $0.16 earnings per share. Impax Laboratories’s revenue was down 7.8% on a year-over-year basis. equities research analysts expect that Impax Laboratories Inc will post 1.21 EPS for the current fiscal year.

A number of equities research analysts recently commented on IPXL shares. Guggenheim started coverage on shares of Impax Laboratories in a research note on Tuesday, December 12th. They issued a “neutral” rating and a $18.00 price objective on the stock. Cantor Fitzgerald set a $35.00 price objective on shares of Impax Laboratories and gave the company a “buy” rating in a research note on Friday, December 15th. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a research note on Monday, December 18th. Zacks Investment Research cut shares of Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Leerink Swann initiated coverage on shares of Impax Laboratories in a research note on Tuesday, January 2nd. They set an “outperform” rating and a $22.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Impax Laboratories has a consensus rating of “Hold” and an average price target of $20.91.

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Impax Laboratories Profile

Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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Institutional Ownership by Quarter for Impax Laboratories (NASDAQ:IPXL)

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