Michael Nestor Sells 857 Shares of Impax Laboratories Inc (IPXL) Stock
Impax Laboratories Inc (NASDAQ:IPXL) insider Michael Nestor sold 857 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $16.48, for a total transaction of $14,123.36. Following the sale, the insider now directly owns 108,073 shares in the company, valued at $1,781,043.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Michael Nestor also recently made the following trade(s):
- On Friday, May 12th, Michael Nestor sold 700 shares of Impax Laboratories stock. The shares were sold at an average price of $17.11, for a total transaction of $11,977.00.
Shares of Impax Laboratories Inc (NASDAQ:IPXL) traded down 1.83% during trading on Wednesday, hitting $16.10. 1,448,637 shares of the stock traded hands. The firm’s market cap is $1.15 billion. Impax Laboratories Inc has a 52-week low of $7.75 and a 52-week high of $35.24. The stock has a 50 day moving average of $13.74 and a 200 day moving average of $13.28.
Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings results on Wednesday, May 10th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. Impax Laboratories had a negative net margin of 19.93% and a positive return on equity of 11.34%. The company had revenue of $184.40 million during the quarter, compared to analyst estimates of $193.17 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was down 18.2% compared to the same quarter last year. Analysts expect that Impax Laboratories Inc will post $0.65 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Impax Laboratories by 4.6% in the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock worth $79,080,000 after buying an additional 276,765 shares during the last quarter. North Tide Capital LLC increased its position in shares of Impax Laboratories by 50.0% in the first quarter. North Tide Capital LLC now owns 3,000,000 shares of the specialty pharmaceutical company’s stock worth $37,950,000 after buying an additional 1,000,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Impax Laboratories by 47.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock worth $33,359,000 after buying an additional 845,375 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Impax Laboratories by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,759,121 shares of the specialty pharmaceutical company’s stock worth $41,691,000 after buying an additional 28,933 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Impax Laboratories during the fourth quarter worth about $16,669,000. 84.47% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on IPXL shares. Zacks Investment Research downgraded shares of Impax Laboratories from a “buy” rating to a “strong sell” rating in a report on Monday, March 6th. Piper Jaffray Companies downgraded shares of Impax Laboratories from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a report on Wednesday, March 1st. Guggenheim reaffirmed a “buy” rating and set a $20.00 price target on shares of Impax Laboratories in a report on Monday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Impax Laboratories in a report on Tuesday, January 17th. Finally, Vetr downgraded shares of Impax Laboratories from a “strong-buy” rating to a “strong sell” rating and set a $10.55 price target on the stock. in a report on Monday, April 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.37.
About Impax Laboratories
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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