Depomed, Inc. (DEPO) Holdings Lifted by Nordea Investment Management AB
Nordea Investment Management AB raised its position in Depomed, Inc. (NASDAQ:DEPO) by 84.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,855 shares of the specialty pharmaceutical company’s stock after buying an additional 83,909 shares during the period. Nordea Investment Management AB owned about 0.29% of Depomed worth $1,964,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Litespeed Management L.L.C. raised its position in shares of Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock worth $23,013,000 after acquiring an additional 650,746 shares during the period. Vanguard Group Inc. boosted its stake in shares of Depomed by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock worth $60,129,000 after acquiring an additional 609,722 shares in the last quarter. ING Groep NV acquired a new stake in shares of Depomed during the 2nd quarter valued at about $4,672,000. State of Wisconsin Investment Board grew its position in shares of Depomed by 155.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 515,200 shares of the specialty pharmaceutical company’s stock valued at $5,533,000 after acquiring an additional 313,200 shares during the period. Finally, Clark Estates Inc. NY acquired a new stake in shares of Depomed during the 2nd quarter valued at about $3,329,000. 91.25% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. Royal Bank Of Canada restated a “hold” rating and issued a $13.00 price target on shares of Depomed in a research note on Tuesday, June 13th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 price target on shares of Depomed in a report on Sunday, September 10th. Janney Montgomery Scott downgraded Depomed from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $8.00 in a research report on Tuesday, August 8th. BidaskClub downgraded Depomed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research report on Monday, September 11th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.44.
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Shares of Depomed, Inc. (NASDAQ:DEPO) opened at 6.09 on Wednesday. The stock’s market capitalization is $383.60 million. Depomed, Inc. has a 1-year low of $5.58 and a 1-year high of $27.02. The firm’s 50-day moving average price is $6.12 and its 200 day moving average price is $9.79.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.52). The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The company’s revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Depomed, Inc. will post $0.48 earnings per share for the current fiscal year.
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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