Lannett Co. (LCI) Downgraded by TheStreet to Hold
A number of other research firms have also commented on LCI. Deutsche Bank AG initiated coverage on shares of Lannett in a research report on Wednesday, June 29th. They set a hold rating and a $26.00 price target for the company. Zacks Investment Research upgraded shares of Lannett from a hold rating to a buy rating and set a $28.00 price target for the company in a research report on Friday, July 1st. Oppenheimer Holdings Inc. restated a hold rating on shares of Lannett in a research report on Tuesday, July 12th. Finally, Raymond James Financial Inc. boosted their price target on shares of Lannett from $31.00 to $43.00 and gave the company an outperform rating in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $31.36.
Shares of Lannett (NYSE:LCI) traded down 3.94% during midday trading on Tuesday, reaching $21.95. The company had a trading volume of 187,450 shares. Lannett has a one year low of $16.91 and a one year high of $49.44. The company has a 50 day moving average price of $29.08 and a 200-day moving average price of $25.99. The firm has a market capitalization of $809.78 million, a P/E ratio of 18.29 and a beta of 1.93.
Lannett (NYSE:LCI) last issued its earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. Lannett had a net margin of 7.91% and a return on equity of 23.75%. The business had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $161.55 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 70.1% compared to the same quarter last year. On average, analysts anticipate that Lannett will post $3.39 EPS for the current fiscal year.
In related news, insider G. Michael Landis sold 4,334 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $32.30, for a total value of $139,988.20. Following the completion of the transaction, the insider now directly owns 6,461 shares in the company, valued at $208,690.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Maher sold 1,478 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $33.91, for a total transaction of $50,118.98. Following the completion of the transaction, the director now owns 20,320 shares of the company’s stock, valued at $689,051.20. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Telemus Capital LLC raised its position in shares of Lannett by 10.7% in the third quarter. Telemus Capital LLC now owns 6,482,126 shares of the company’s stock valued at $172,230,000 after buying an additional 627,816 shares during the period. Vanguard Group Inc. increased its stake in Lannett by 12.8% in the second quarter. Vanguard Group Inc. now owns 2,059,084 shares of the company’s stock valued at $48,985,000 after buying an additional 233,726 shares in the last quarter. BlackRock Fund Advisors increased its stake in Lannett by 2.6% in the second quarter. BlackRock Fund Advisors now owns 2,047,025 shares of the company’s stock valued at $48,699,000 after buying an additional 52,121 shares in the last quarter. Deerfield Management Co. acquired a new stake in Lannett during the second quarter valued at $21,306,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Lannett by 2.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 689,158 shares of the company’s stock valued at $16,395,000 after buying an additional 17,459 shares in the last quarter. Institutional investors own 78.88% of the company’s stock.
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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