Deltec Asset Management LLC decreased its stake in Depomed, Inc. (NASDAQ:DEPO) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024,939 shares of the specialty pharmaceutical company’s stock after selling 50,403 shares during the period. Depomed comprises 2.3% of Deltec Asset Management LLC’s holdings, making the stock its 8th largest position. Deltec Asset Management LLC owned about 1.64% of Depomed worth $11,006,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in DEPO. Vanguard Group Inc. raised its stake in Depomed by 14.6% in the first quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock worth $60,129,000 after buying an additional 609,722 shares during the last quarter. State Street Corp raised its stake in Depomed by 5.8% in the first quarter. State Street Corp now owns 2,374,915 shares of the specialty pharmaceutical company’s stock worth $29,802,000 after buying an additional 130,760 shares during the last quarter. Litespeed Management L.L.C. raised its stake in 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 buying an additional 650,746 shares during the last quarter. HighTower Advisors LLC raised its stake in Depomed by 10.5% in the first quarter. HighTower Advisors LLC now owns 892,028 shares of the specialty pharmaceutical company’s stock worth $11,200,000 after buying an additional 84,815 shares during the last quarter. Finally, Norges Bank bought a new stake in Depomed during the fourth quarter worth about $13,075,000. 91.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Depomed, Inc. (NASDAQ:DEPO) opened at 10.91 on Thursday. Depomed, Inc. has a 1-year low of $9.38 and a 1-year high of $27.02. The stock’s market cap is $680.14 million. The company has a 50-day moving average price of $10.53 and a 200-day moving average price of $13.39.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.18. Depomed had a negative return on equity of 25.33% and a negative net margin of 21.41%. The firm had revenue of $95 million during the quarter, compared to analyst estimates of $99.48 million. During the same period in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities analysts expect that Depomed, Inc. will post $0.67 earnings per share for the current fiscal year.
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A number of research firms recently issued reports on DEPO. BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $19.00 target price on shares of Depomed in a research note on Wednesday, March 29th. Royal Bank Of Canada set a $13.00 target price on Depomed and gave the company a “hold” rating in a research note on Sunday, July 16th. Mizuho reduced their target price on Depomed from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 29th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $26.00 target price on shares of Depomed in a research note on Tuesday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Depomed has an average rating of “Hold” and an average target price of $17.74.
In other news, insider Arthur J. Higgins acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $9.92 per share, with a total value of $148,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.59% of the company’s stock.
Depomed Company 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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