Lannett Co. Expected to Post Q2 2017 Earnings of $0.91 Per Share (LCI)
Lannett Co. (NYSE:LCI) – Oppenheimer Holdings increased their Q2 2017 earnings per share estimates for Lannett in a report released on Sunday. Oppenheimer Holdings analyst M. Ho now forecasts that the firm will post earnings of $0.91 per share for the quarter, up from their prior forecast of $0.88. Oppenheimer Holdings also issued estimates for Lannett’s Q3 2017 earnings at $0.94 EPS, Q4 2017 earnings at $0.97 EPS and FY2017 earnings at $3.60 EPS.
Lannett (NYSE:LCI) last issued its earnings results on Thursday, November 3rd. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. The business had revenue of $161.60 million for the quarter, compared to analyst estimates of $166.72 million. Lannett had a negative net margin of 2.87% and a positive return on equity of 21.98%. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share.
LCI has been the topic of a number of other reports. TheStreet lowered shares of Lannett to a “hold” rating in a research report on Tuesday, October 18th. Zacks Investment Research lowered shares of Lannett from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 26th. Deutsche Bank AG restated a “hold” rating and set a $26.00 price target (down from $32.00) on shares of Lannett in a research report on Tuesday, October 18th. Finally, Raymond James Financial Inc. boosted their price target on shares of Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.29.
Shares of Lannett (NYSE:LCI) traded up 4.43% during trading on Tuesday, hitting $21.20. 203,540 shares of the stock were exchanged. The company’s market cap is $784.42 million. Lannett has a one year low of $16.75 and a one year high of $44.49. The stock’s 50 day moving average price is $24.18 and its 200-day moving average price is $26.19.
In other news, insider G. Michael Landis sold 4,334 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 6,461 shares of the company’s stock, valued at approximately $208,690.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Maher sold 1,478 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $33.91, for a total transaction of $50,118.98. Following the completion of the sale, the director now directly owns 20,320 shares in the company, valued at $689,051.20. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC acquired a new stake in shares of Lannett during the second quarter valued at $130,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Lannett by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the company’s stock valued at $165,000 after buying an additional 100 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Lannett by 13.7% in the second quarter. Acrospire Investment Management LLC now owns 6,656 shares of the company’s stock valued at $158,000 after buying an additional 800 shares during the last quarter. BlackRock Inc. increased its stake in shares of Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock valued at $179,000 after buying an additional 5,527 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of Lannett during the third quarter valued at $203,000. 78.89% of the stock is currently owned by institutional investors and hedge funds.
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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