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.

Earnings History and Estimates for Lannett (NYSE:LCI)

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.

About Lannett

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.

5 Day Chart for NYSE:LCI

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