California State Teachers Retirement System Sells 19,100 Shares of Depomed, Inc. (DEPO)

California State Teachers Retirement System lessened its stake in shares of Depomed, Inc. (NASDAQ:DEPO) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,123 shares of the specialty pharmaceutical company’s stock after selling 19,100 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Depomed worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in Depomed by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 5,448 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Depomed during the 2nd quarter worth about $147,000. Municipal Employees Retirement System of Michigan increased its position in Depomed by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after purchasing an additional 590 shares in the last quarter. Aperio Group LLC purchased a new stake in Depomed during the 2nd quarter worth about $214,000. Finally, Louisiana State Employees Retirement System increased its position in Depomed by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the specialty pharmaceutical company’s stock worth $273,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

DEPO has been the topic of a number of research analyst reports. Piper Jaffray Companies reissued a “hold” rating and issued a $5.00 price target on shares of Depomed in a research note on Friday, November 10th. UBS AG raised their price target on Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Morgan Stanley raised Depomed from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 9th. Royal Bank Of Canada decreased their price target on Depomed from $8.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 8th. Finally, Mizuho reissued a “neutral” rating and issued a $6.00 price target (down from $11.00) on shares of Depomed in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Depomed has a consensus rating of “Hold” and a consensus price target of $10.64.

Depomed, Inc. (NASDAQ:DEPO) opened at $6.26 on Friday. Depomed, Inc. has a 52 week low of $4.31 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.79 and a current ratio of 0.83.

Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $95.40 million for the quarter, compared to analyst estimates of $99.11 million. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The company’s revenue was down 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. sell-side analysts anticipate that Depomed, Inc. will post -1.34 EPS for the current year.

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Depomed Profile

Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).

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Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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