KBC Group NV Buys New Position in Lannett Co Inc (LCI)
KBC Group NV bought a new stake in shares of Lannett Co Inc (NYSE:LCI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 89,426 shares of the company’s stock, valued at approximately $1,824,000. KBC Group NV owned 0.24% of Lannett Co at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Lannett Co by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 383,309 shares of the company’s stock worth $8,568,000 after buying an additional 12,745 shares during the period. Capital Fund Management S.A. increased its position in Lannett Co by 80.2% in the first quarter. Capital Fund Management S.A. now owns 56,677 shares of the company’s stock worth $1,267,000 after buying an additional 25,219 shares during the period. State Board of Administration of Florida Retirement System increased its position in Lannett Co by 167.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,975 shares of the company’s stock worth $1,877,000 after buying an additional 52,580 shares during the period. Chicago Equity Partners LLC purchased a new position in Lannett Co during the first quarter worth about $1,536,000. Finally, LSV Asset Management increased its position in Lannett Co by 13.6% in the first quarter. LSV Asset Management now owns 1,691,935 shares of the company’s stock worth $37,814,000 after buying an additional 202,878 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.
Shares of Lannett Co Inc (NYSE:LCI) opened at 17.20 on Tuesday. The company’s market capitalization is $635.01 million. Lannett Co Inc has a 12-month low of $14.90 and a 12-month high of $34.99. The firm’s 50-day moving average price is $18.65 and its 200-day moving average price is $20.99.
Lannett Co (NYSE:LCI) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The firm’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, analysts expect that Lannett Co Inc will post $2.59 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/29/kbc-group-nv-buys-new-position-in-lannett-co-inc-lci.html.
A number of research firms have recently issued reports on LCI. BMO Capital Markets restated a “market perform” rating and issued a $20.00 price target (down from $26.00) on shares of Lannett Co in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a research note on Wednesday, August 23rd. Roth Capital set a $27.00 price target on Lannett Co and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded Lannett Co from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Deutsche Bank AG dropped their price target on Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Lannett Co presently has a consensus rating of “Hold” and an average target price of $21.80.
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.
Receive News & Stock Ratings for Lannett Co Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett Co Inc and related stocks with our FREE daily email newsletter.