Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Forest Laboratories Inc. (NYSE:FRX).
SEC data indicate that these institutions significantly reduced their stock shares of Forest Laboratories Inc. in Q3 2011:
- PZENA INVESTMENT MANAGEMENT LLC: On 06/30/2011, held 5,125,671 shares, worth $201,643,897. On 09/30/2011, held 0 shares.
- BRIDGER MANAGEMENT LLC: On 06/30/2011, held 1,615,000 shares, worth $63,534,100. On 09/30/2011, held 0 shares.
- HERNDON CAPITAL MANAGEMENT: On 06/30/2011, held 1,589,698 shares, worth $62,538,719. On 09/30/2011, held 0 shares.
- SUTTONBROOK CAPITAL MANAGEMENT LP: On 06/30/2011, held 875,000 shares, worth $34,422,500. On 09/30/2011, held 0 shares.
- HEARTLAND ADVISORS INC: On 06/30/2011, held 735,549 shares, worth $28,936,498. On 09/30/2011, held 0 shares.
About the company: Forest Laboratories, Inc. develops, manufactures, and sells both branded and generic forms of ethical products which require a physician’s prescription. The Company also manufactures non-prescription pharmaceutical products sold over-the-counter, which are used for the treatment of a wide range of illnesses. Forest’s products are marketed in the United States and eastern Europe.
Competitors to Watch: Johnson & Johnson (NYSE:JNJ), AstraZeneca plc (NYSE:AZN), Lannett Company, Inc. (AMEX:LCI), Watson Pharmaceuticals, Inc. (NYSE:WPI), Mylan Inc. (NASDAQ:MYL), Pfizer Inc. (NYSE:PFE), Abbott Laboratories (NYSE:ABT), Impax Laboratories, Inc. (NASDAQ:IPXL), Par Pharmaceutical Companies, Inc. (NYSE:PRX), and Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ).
(Note: Data regarding Forest Laboratories Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)
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