Carl Icahn added 7.44% to his stake in Forest Laboratories Inc. (FRX) at the average price of $34.33 on 08/21/2012, as reported in the latest insider filings by Carl Icahn. He owns 28,323,697 shares. Forest Laboratories Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription, as well as non-prescription pharmaceutical products sold over-the-counter. Forest Laboratories Inc. has a market cap of $9.09 billion; its shares were traded at around $34.66 with a P/E ratio of 11.6 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earnings growth of 9.7% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 4-star.

Several gurus hold positions in FRX. Richard Pzena owns 11,128 shares as of 06/30/2012, an increase of 231.88% from the previous quarter. This position accounts for 0.0045% of the $8.56 billion portfolio of Pzena Investment Management LLC. Joel Greenblatt owns 379,743 shares as of 06/30/2012, which accounts for 0.98% of the $1.36 billion portfolio of Gotham Capital. John Hussman owns 350,000 shares as of 06/30/2012, which accounts for 0.23% of the $5.32 billion portfolio of Hussman Economtrics Advisors.

Forest Laboratories recently announced that reported earnings per share equaled $0.21 in the first quarter of fiscal 2013. Reported earnings per share in the first quarter of fiscal 2012 were $0.90 after a charge of $40.0 million or $0.14 per share net of tax. Net sales for the quarter decreased 31.9% to $751.8 million, from $1.1 billion in the year-ago period.

Director Lester B. Salans sold 2,390 shares of FRX stock on 04/18/2012 at the average price of $34.30. Lester B. Salans owns at least 21,512 shares after this. The price of the stock has increased by 1.05% since. Other insiders have also decreased their positions in the company.

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