Lannett Co Inc (LCI) Holdings Increased by Pinebridge Investments L.P.
Pinebridge Investments L.P. raised its holdings in Lannett Co Inc (NYSE:LCI) by 1,041.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,726 shares of the company’s stock after acquiring an additional 39,894 shares during the period. Pinebridge Investments L.P. owned approximately 0.12% of Lannett Co worth $892,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in LCI. BlackRock Inc. raised its holdings in shares of Lannett Co by 52,610.9% in the 1st quarter. BlackRock Inc. now owns 3,903,766 shares of the company’s stock valued at $87,250,000 after acquiring an additional 3,896,360 shares in the last quarter. Morgan Stanley raised its holdings in shares of Lannett Co by 592.6% in the 1st quarter. Morgan Stanley now owns 1,339,367 shares of the company’s stock valued at $29,935,000 after acquiring an additional 1,145,987 shares in the last quarter. Snow Capital Management LP raised its holdings in shares of Lannett Co by 22.5% in the 1st quarter. Snow Capital Management LP now owns 3,093,435 shares of the company’s stock valued at $69,138,000 after acquiring an additional 567,800 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Lannett Co by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 2,733,431 shares of the company’s stock valued at $61,093,000 after acquiring an additional 123,761 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Lannett Co by 217.0% in the 1st quarter. Prudential Financial Inc. now owns 167,801 shares of the company’s stock valued at $3,750,000 after acquiring an additional 114,863 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.
Lannett Co Inc (LCI) opened at 18.45 on Friday. The company’s market capitalization is $687.89 million. The stock’s 50 day moving average price is $16.90 and its 200 day moving average price is $20.43. Lannett Co Inc has a 12 month low of $14.90 and a 12 month high of $30.65.
Lannett Co (NYSE:LCI) last announced its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The business had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.01 million. During the same period in the previous year, the business earned $0.73 earnings per share. The business’s revenue was down 17.6% on a year-over-year basis. Equities research analysts anticipate that Lannett Co Inc will post $2.57 earnings per share for the current fiscal year.
Several analysts have weighed in on LCI shares. Roth Capital set a $27.00 price target on Lannett Co and gave the company a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised Lannett Co from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, July 18th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Lannett Co in a report on Monday, July 17th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Lannett Co in a report on Thursday, June 8th. Finally, ValuEngine cut Lannett Co from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.80.
Lannett Co Company Profile
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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