Impax Laboratories, Inc. (IPXL) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its holdings in shares of Impax Laboratories, Inc. (NASDAQ:IPXL) by 83.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,000 shares of the specialty pharmaceutical company’s stock after selling 221,688 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Impax Laboratories worth $913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IPXL. FMR LLC increased its position in shares of Impax Laboratories by 23.7% during the first quarter. FMR LLC now owns 498,500 shares of the specialty pharmaceutical company’s stock valued at $6,306,000 after acquiring an additional 95,432 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Impax Laboratories by 1.7% during the first quarter. Teachers Advisors LLC now owns 122,785 shares of the specialty pharmaceutical company’s stock valued at $1,553,000 after acquiring an additional 2,073 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Impax Laboratories by 4.6% during the first quarter. Vanguard Group Inc. now owns 6,251,395 shares of the specialty pharmaceutical company’s stock valued at $79,080,000 after acquiring an additional 276,765 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Impax Laboratories by 47.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,637,077 shares of the specialty pharmaceutical company’s stock valued at $33,359,000 after acquiring an additional 845,375 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Impax Laboratories by 7.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 547,184 shares of the specialty pharmaceutical company’s stock valued at $6,922,000 after acquiring an additional 39,801 shares during the last quarter. 86.09% of the stock is owned by institutional investors.

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IPXL has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Canaccord Genuity began coverage on Impax Laboratories in a research report on Monday, July 31st. They issued a “hold” rating and a $19.00 target price for the company. BidaskClub downgraded Impax Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Cantor Fitzgerald set a $20.00 target price on Impax Laboratories and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Cowen and Company set a $20.00 target price on Impax Laboratories and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Impax Laboratories has a consensus rating of “Hold” and an average price target of $19.60.

Impax Laboratories, Inc. (NASDAQ:IPXL) opened at $16.45 on Tuesday. Impax Laboratories, Inc. has a twelve month low of $7.75 and a twelve month high of $25.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32. The company has a market capitalization of $1,230.29, a price-to-earnings ratio of 24.41, a PEG ratio of 1.05 and a beta of 0.99.

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

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

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