Impax Laboratories, Inc. (IPXL) Stake Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in Impax Laboratories, Inc. (NASDAQ:IPXL) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,323 shares of the specialty pharmaceutical company’s stock after selling 563 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Impax Laboratories worth $923,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtu KCG Holdings LLC bought a new stake in shares of Impax Laboratories in the 2nd quarter worth approximately $231,000. State of Alaska Department of Revenue grew its position in shares of Impax Laboratories by 78.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,548 shares of the specialty pharmaceutical company’s stock worth $234,000 after buying an additional 6,408 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Impax Laboratories by 3.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,410 shares of the specialty pharmaceutical company’s stock worth $280,000 after buying an additional 530 shares during the last quarter. Legato Capital Management LLC grew its position in shares of Impax Laboratories by 891.4% in the 2nd quarter. Legato Capital Management LLC now owns 23,426 shares of the specialty pharmaceutical company’s stock worth $377,000 after buying an additional 21,063 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Impax Laboratories by 56.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock worth $378,000 after buying an additional 8,469 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.

Impax Laboratories, Inc. (NASDAQ IPXL) opened at $17.17 on Wednesday. The stock has a market capitalization of $1,278.46, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. Impax Laboratories, Inc. has a one year low of $7.75 and a one year high of $25.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.32 and a current ratio of 1.81.

Impax Laboratories (NASDAQ:IPXL) last announced its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $206.40 million during the quarter, compared to analysts’ expectations of $208.38 million. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. equities research analysts forecast that Impax Laboratories, Inc. will post 0.63 EPS for the current fiscal year.

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A number of equities research analysts have recently weighed in on IPXL shares. BidaskClub lowered Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 price objective on shares of Impax Laboratories in a research report on Monday, September 25th. Royal Bank Of Canada set a $17.00 price objective on Impax Laboratories and gave the stock a “hold” rating in a research report on Thursday, August 10th. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective (up from $20.00) on shares of Impax Laboratories in a research report on Saturday, September 23rd. Finally, Zacks Investment Research upgraded Impax Laboratories from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.60.

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), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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

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