Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Depomed Inc. (NASDAQ:DEPO) by 140.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,000 shares of the specialty pharmaceutical company’s stock after buying an additional 42,000 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.12% of Depomed worth $1,799,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Depomed by 0.8% in the second quarter. California State Teachers Retirement System now owns 128,023 shares of the specialty pharmaceutical company’s stock worth $2,512,000 after buying an additional 1,033 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Depomed by 257.5% in the second quarter. Nordea Investment Management AB now owns 31,700 shares of the specialty pharmaceutical company’s stock worth $622,000 after buying an additional 22,833 shares in the last quarter. ClariVest Asset Management LLC increased its stake in shares of Depomed by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 92,487 shares of the specialty pharmaceutical company’s stock worth $1,814,000 after buying an additional 12,400 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Depomed by 25.3% in the second quarter. Alps Advisors Inc. now owns 85,830 shares of the specialty pharmaceutical company’s stock worth $1,684,000 after buying an additional 17,337 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Depomed by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 27,100 shares of the specialty pharmaceutical company’s stock worth $532,000 after buying an additional 100 shares in the last quarter.

Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.07. Depomed had a negative net margin of 16.93% and a negative return on equity of 7.49%. The firm had revenue of $111 million for the quarter, compared to the consensus estimate of $127.22 million. During the same period last year, the company posted $0.33 earnings per share. Depomed’s revenue for the quarter was up 5.3% on a year-over-year basis.

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A number of equities research analysts have weighed in on DEPO shares. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $28.00 target price on shares of Depomed in a report on Wednesday, September 28th. Mizuho downgraded Depomed from a “buy” rating to a “neutral” rating in a report on Tuesday, October 4th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of Depomed in a report on Friday, September 23rd. Roth Capital set a $28.00 target price on Depomed and gave the company a “buy” rating in a report on Friday, October 21st. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $19.00 price objective (up previously from $18.00) on shares of Depomed in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.99.

In other Depomed news, VP Thadd M. Vargas sold 11,250 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $25.00, for a total transaction of $281,250.00. Following the completion of the transaction, the vice president now directly owns 73,086 shares of the company’s stock, valued at $1,827,150. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO August J. Moretti sold 5,000 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the transaction, the chief financial officer now directly owns 26,680 shares of the company’s stock, valued at $556,011.20. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Depomed Company Profile

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