Lannett Co Inc (LCI) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System cut its position in Lannett Co Inc (NYSE:LCI) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,000 shares of the company’s stock after selling 3,200 shares during the period. California Public Employees Retirement System’s holdings in Lannett Co were worth $1,654,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Mason Street Advisors LLC raised its position in shares of Lannett Co by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,870 shares of the company’s stock worth $154,000 after buying an additional 482 shares in the last quarter. Airain ltd acquired a new position in shares of Lannett Co during the first quarter worth $205,000. Neuberger Berman Group LLC acquired a new position in shares of Lannett Co during the first quarter worth $209,000. Cutter & CO Brokerage Inc. acquired a new position in shares of Lannett Co during the first quarter worth $255,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Lannett Co by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the company’s stock worth $268,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.
Lannett Co Inc (NYSE LCI) opened at 17.10 on Friday. Lannett Co Inc has a 12-month low of $16.75 and a 12-month high of $39.99. The stock has a 50 day moving average price of $20.49 and a 200-day moving average price of $21.48. The stock’s market capitalization is $636.63 million.
Lannett Co (NYSE:LCI) last issued its earnings results on Tuesday, May 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.10. Lannett Co had a positive return on equity of 22.13% and a negative net margin of 0.41%. The firm had revenue of $165.72 million during the quarter, compared to the consensus estimate of $170.28 million. On average, equities analysts anticipate that Lannett Co Inc will post $3.21 earnings per share for the current fiscal year.
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LCI has been the topic of a number of research analyst reports. Roth Capital set a $27.00 target price on Lannett Co and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded Lannett Co from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Saturday, April 22nd. BidaskClub cut Lannett Co from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG reiterated a “hold” rating and issued a $23.00 price objective (up from $22.00) on shares of Lannett Co in a report on Monday, July 17th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lannett Co in a report on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Lannett Co has an average rating of “Hold” and an average price target of $27.50.
About Lannett Co
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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